Polygon has been performing exceedingly well; Polygon is Ethereum’s premier layer two scaling solution. Polygon is what people want; it offers the security of Ethereum at very low fees.
Everything for Polygon is going crazy, the price, the user statistics, and the number of projects integrating with Polygon.
From the chart above, you can see that Polygon hit a new all-time high of $1.86 and $1.94 and two dollars on some other exchanges the other day. One good thing is that since the beginning of the year, the MATIC token was worth 0.017 cents on the first of January. If you had just bought a thousand dollars worth of MATIC tokens, you would be able to sell them today for a hundred thousand dollars. Polygon is a 100x coin. Pumps like this happen sometime in the market.
Polygon will go higher as time goes by; it is a good long-term investment.
The extremely high price of Ethereum’s gas fees is one of the contributions to Polygon’s price. Ethereum’s fees got up to about $70 for an average transaction, meaning that if you wanted to make a simple Ethereum transfer from one person to another, it cost that much. The gas fees are why most people rushed into Polygon because Polygon is Ethereum security with major scalability. After all, Polygon is an Ethereum side-chain that is being backed up by the security of Ethereum.
Polygon has been going crazy and is nearly having about 3.7 million transactions per day. Ethereum does about a million transactions a day on average. Despite the high level of transactions, Polygon has, it is scaling. Transactions on the Polygon network are very cheap compared to the hundreds of dollars one has to pay to get a transaction done on the Ethereum main net. People are going into the Polygon network because they can get the Ethereum experience without the heart-wrenching Ethereum fees.
Programs and applications are already starting to use the Polygon network; many high-profile companies are switching over to Polygon. Companies like, SushiSwap, Aave, Decentraland.
The One-inch network announced that they would be coming on to Polygon; it is a decentralized exchange aggregator that helps you get the best price for any swap. Asides from decentralized finances on Polygon, we also have NFTs. NFTs like Ethernity. NFTs on the Polygon network are for cross-chain functionality.
Polygon has also been getting massive adoption in people coming in and building on their chain; different products and applications have started to integrate with Polygon.
Polygon is one of the biggest ecosystems because a lot of projects are being integrated. As a result, the MATIC token can still go higher. $10 is possible for Polygon, and besides, it’s not a crazy prize target.
MATIC has the transaction volume, the user volume; it has the best and the biggest applications in cryptocurrency building on their chain and integrating with the Polygon network. The adoption, total value locked, and some of the applications on Polygon make you realize that despite the pump and the current price, Polygon is slightly undervalued.
