can the MATIC explode in 2023?

polygon maintains a reassuring image in the cryptocurrency landscape. Since its creation, polygon and its cryptocurrency MATIC they play an important role in the ecosystem Ethereum. In this context, this network has been able to seduce and continues to gain ground in its quest to provide a stable, fast and reliable environment for a large number of users Dapps who trusts him.

However, MATIC the cryptocurrency is no exception to the challenges of the market and has suffered a decline in value during this year 2022. What will it be for 2023?

Polygon crypto: a blockchain with multiple projects

polygon (MATIC) is a network developed as a side chain of the blockchain Ethereum and based on A consent Of Proof of participation (POS).

That’s it EVM compatible and offers the scalability of which Ethereum severely lacking.

polygon crypto was born as ” the internet of blockchainsEthereum“. Its main feature is the diversity of solutions blockchain that offers. Indeed, in addition to its ability to scale for Ethereumthis network is a true feature aggregator for developers.

polygon has never ceased to attract more and more designers since its creation in 2017.

In 5 years, MATIC Network has multiplied by 10 the number of people working on its projects.

This network, most of whose reviews are positive, is therefore in perpetual motion and is actively working to expand technologies blockchain.

From “Zero-Knowledge” to native KYC system, polygon keep innovating.

Its strength is to rely on the abilities of Ethereumoffering a reliable, fast and much less expensive ecosystem.

It thus makes it possible to serve as test network for new projects under development.

Her popularity it has been growing for years. Recently, Halfthe parent company of Facebookhas announced its intention to trust polygon crypto to develop a service NFTs on social Instagram.

Bandthe online payment processing platform, also called on the net polygon. Relying on blockchainStripe intends to deliver cryptocurrency payment solutions.

His new adventures allow it polygon (MATIC) Of exposure to the general public and develop its image as blockchain unavoidable for all projects Dappscrypto or even Web3.

Is MATIC encryption robust?

The token MATIC stand Tenth in the ranking of the largest market capitalization of the market cryptocurrencieswith 7 billion dollars of capitalization.

It is a central element in the functioning of the blockchain polygon and mainly performs 2 roles:

• Payment of transaction fees

As a utility token, the MATIC is the network-specific payment unit. Users of the blockchain they are then forced to use this token to participate and interact within the rich ecosystem of polygon.

Operated by the mechanism Proof of participationnetwork participants polygon and its secondary chains dot its bottom MATIC and get rewards based on the same token. The latter currently have an APR of 4.95%.

The rewards of staking out to represent 12% of the supply total or 1.2 billion tokens dedicated to staking out of 10 billion.

According to the procurement schedule published at the start of the project, this threshold should be reached around April 2025.

In addition to its high-performance network, the MATIC also radiates through trust that the actors of the cryptosphere bring to him.

Indeed, between July and December 2022, the number of addresses on the network increased by 36% from 148,000 to over 202,000. The number of transactions also continues to increase, surpassing those ofEthereum.

Equally, the MATIC surpass the leaders bitcoins and ETH.

Also in the last 6 months, the cryptocurrency of polygon has registered a 60% increase. of its value since last July 1 when ETH reached a minimum +13.8% and bitcoins ends in red with a -15.6%.

Interestingly, so far, ETH and MATIC mirrored. The sign of polygon closely followed the movements of that ofEthereum. Now the MATIC it seems to come off on its own.

This development shows a token resilient and solid with significant potential.

This is undoubtedly why more and more users are on the net polygon.

Polygon: what evolution for 2023?

the MATIC is definitely a sign to watch for in 2023 for several reasons.

First, from a graphical point of view, the value of token it is currently in an interesting configuration.

After suffering the full force of the fall of the entire market with the collapse of Earth (MOON)the bear market looks like it ended up on the cryptographic chart of polygon.

Indeed, since August, the token Of polygon seems to have entered an accumulation phase. The value of the token moves neutrally between $0.70 and $0.95

The accumulation phase is an important phase in analyzing a crypto cycle. She scores a period where long-term buyers are positioning themselves for the price takeoff.

Off-chain, this feeling is also reinforced by the many projects that should emerge polygon.

This is especially the case with partnerships prestigious announced. We cite as an example, Nike and Meta with developments NFTs underway which should be officially launched in 2023.

These projects will shed a very important light polygon which will pave the way for the general public.

With the development of Dapps and Web3, polygon could thus reach heights.

the MATIC is resilient and the blockchain polygon rest serious, attractive and Interesting under any circumstances.

However, it is important to keep in mind that despite everything, the MATIC remains dependent on the market as a whole.

Its course was violently affected by the fall of Land. During bear market, the token lost 89% of its value aAT extension recorded on December 27, 2021.

However, the MATIC it certainly is an important asset in the cryptocurrency ecosystem. While it’s just an altcoin, it remains theone of the cryptocurrency giants.

The teams around the project are serious. Its community remains relatively strong and engaged. Developers seem to be very attracted to the web and therefore the future should smile polygon (MATIC).

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