The bearish position of the crypto market creates chaotic consequences among crypto investors. The rate of the top cryptos is falling increasingly. The last couple of months is a remarkable phase for the crypto market ever. The top two cryptos, Bitcoin and Ethereum price fall hit the market cap separately. Even Polygon network’s crypto Matic was decreasing its rate accordingly. Though the sellers’ pressure makes a big concern for crypto investors.
But this week was quite promising for crypto members. It is forecasted about the bull run. The temporary increasing price has indicated the upcoming progress in the crypto market cap. Polygon (Matic) price rose nearly 6% in the last 24 hours. Which is a green signal for the native investors.
Other Crypto Overview :
The top two currencies, Bitcoin and Ethereum, have continuous ups and downs that make the investors hold for a long period. Though the increasing rate of this week is making the situation in progress. As of the time of writing this post, Bitcoin is running at $23474.80. It is 1.40% at an increasing rate. On the other hand, Ethereum’s current price is $1637.49 and the increasing rate is 3.92%.
Noteworthy, the global cryptocurrency market is increasing by 4.8% to 1.12 trillion itself.
Polygon Overview :
The native crypto network Polygon’s crypto Matic is doing very well in the crypto market cap. According to reports, in the last 7 days, Polygon (Matic) price has increased around 71%. As of now, Polygon crypto is ranked 12 in the market.
In the last 24 hours, Polygon (Matic) price has risen nearly 6%. Which creates a massive crowd among the crypto investors. The exchange status of this crypto leaves a remarkable footprint.
Why Does Polygon Perform Well?
During this falling market, Polygon did its job better than the other networks. During this bear market, Polygon was able to perform well with some pre-planned strategies. During the price decrease, Polygon managed to retain its key support levels very well. After that, the price was increasing again.
Moreover, the partnership with Coca-cola and Disney in Spring and Summer 2022 makes the network perform well with unexpected increasing prices. Also, the layer 2 scaling solution is one of the considerable reasons behind it.
Polygon Current Status :
As of the writing time, Polygon’s volume is around $1.4B. Its price is now $0.903413. Polygon’s current market cap is $7.2B along with an 8.0B Matic circulating supply, which is 80% of the total. The market activity is in a bearish position, which is 78% buying and 22% selling graph. The typical hold time according to this network is 103 days. Above all, the price change in the last 24 hours is +5.14%. The 7 days price change is +28.87%.
Experts’ Prediction On Polygon :
Government Capital :
According to Government Capital, Polygon might trade for over $3.7 per coin by 2023. Even go up to $20 within 5 years. Which indicates a bull run for long-term investors.
WalletInvestor predicted that Polygon’s price will be reduced as low as possible. It would fall to $0.035 by July 2023. According to WalletInvestor, Polygon might be a bad choice for upcoming years.
According to TradingBeasts, Polygon can reach up to $1.17 by December 2022. It would be stagnant at $0.9 for the whole of 2023. In 2024, it will again rise to $1.5. Which indicates a low to high rate in the long run.
Digital Coin Price :
Digital Coin Price predicted that in 2023, Polygon will reach a minimum of up to 0.93 and a maximum of $1.15.