The MATIC cryptocurrency was launched back in 2019 and, until recently, did not stand out in any way. The coin began to grow at the beginning of 2021 and is now considered a promising asset.
What is Polygon
The Polygon cryptocurrency project was launched back in 2017 under the name Matic Network. It is an Ethereum sidechain built to speed up smart contracts and decentralized applications. Thus, the developers implemented one of the possible solutions to the scalability problem of the Ethereum backbone. The sidechain throughput is estimated at 7,000 transactions per second. Transactions are confirmed by validators using the Proof of Stake algorithm. Only then are they fixed on the main Ethereum blockchain.
After rebranding and implementation of a number of updates, the network received new functions and a new name. Matic Network became Polygon and now it has become possible to create interconnected blockchains on its basis.
The MATIC token is intended to ensure the security of the network, payment of rewards to validators, and other settlements within the platform. This is a token of the ERC-20 standard, therefore, wallets that support Ethereum are suitable for storing it. MATIC’s finest hour struck in 2021. In relative numbers, the rise in value looks staggering. In just ten weeks from the beginning of the year, the coin has added 2300% in price. The modest initial $ 0.00263 per token is a thing of the past. In the first decade of May 2021, MATIC first crossed the dollar milestone, and then set a historic record at $ 2.45.
Shortly thereafter, there was a deep correction, in mid-July MATIC fell to $ 0.67, but rose again relatively quickly. From the end of July until today, the token price has not dropped below $ 1. The second peak fell on the period that has already been called the season of altcoins. Ultimately, MATIC is now trading just above $ 2 and is ranked 14th by market cap. And perhaps now is the best time to MATIC to ETH exchange.
MATIC Price Prediction
It is very difficult to predict further changes in the token price. However, analysts agree on the further growth of this cryptocurrency but assess its rates differently. The token is expected to be worth more than $ 2.50 by early 2022. It is not excluded that the price will break through the $ 3 mark in May.
The forecasts for more distant prospects are much longer. According to estimates from various sources, in five years, coins can cost from 5.6 to 1.6 dollars. Read more about LetsExchange- Features, Benefits & Usage.
How to trade MATIC to ETH
LetsExchnage – cryptocurrency instant exchange online, however, in addition to irregular transactions for the purchase of cryptocurrencies, it can also be used by professional traders.
Since not all cryptocurrency exchanges support pending orders yet, LetsExchange can successfully implement your trading strategy on medium and long timeframes. Having calculated the optimal time to enter the market, using the data of the price chart and the readings of trading indicators, perform exchange in the direction you need.
All you need to do is to fill in the exchange widget fields one by one:
- In the upper field, select MATIC for sale and indicate the amount of the transaction;
- In the lower field, select ETH to buy;
- Indicate the address of your crypto wallet;
- Deposit coins.
- Press the “Exchange” button.
Using the LetsExchange platform, you make the most profitable deals that were relevant at the time of your entry into the market. The specially developed Smart Rate program will take care of this. It automatically analyzes the available deals and selects the best one. After the completion of the exchange, the coins are automatically credited to your wallet. When the optimal moment to close the position comes, you simply repeat the same steps, swapping the coins.
The platform works without exchange fees and does not limit users in the volume and number of transactions in any of the 300+ coins available for exchange.