- MATIC’s shift to POL token could streamline operations, impacting both efficiency and investor sentiment.
- Short-term price volatility expected as MATIC hovers near critical support levels and faces resistance.
- Long-term projections see MATIC potentially reaching $17.41 by 2050, driven by market dynamics and adoption.
Polygon (MATIC) is set for a transformation as it prepares to migrate to its new native token, POL, starting September 4th. This transition marks a pivotal moment for Polygon enthusiasts and investors alike, signaling a shift in how transactions and staking will operate within the Polygon Proof-of-Stake (PoS) framework.
The upgrade from MATIC to POL will see the latter assume the role of the primary gas and staking token on the Polygon PoS network. This change is expected to streamline operations and enhance efficiency across the network, offering new opportunities and challenges for token holders and stakeholders.
Notably, holders of MATIC on Ethereum, Polygon’s zkEVM, and various exchanges, as well as stakers and delegators, will need to take action to adapt to the new token dynamics.
Price Analysis and Predictions
Currently, MATIC is experiencing a bearish trend in its price movement, with a recent decline placing it around $0.5337 . This downtrend reflects a 3.80% decrease over the last 24 hours, highlighting a cautious market sentiment regarding the upcoming transition to POL.
The current price of MATIC sits near a support level of $0.5330, with resistance noted at $0.5548. Analysts suggest that a break below the support level could further pressure prices downward, while a rebound may signal potential for recovery.
Polygon/USD 1-day price chart, Source: Trading view
Technical indicators such as the 1-day RSI at 47.21 and the MACD trading above the signal line indicate a neutral to bullish outlook in the short term, suggesting possible price volatility amid market adjustments.
Despite recent price declines, trading volume has increased by 12.87% to $287,144,404 in the past 24 hours, indicating active market participation ahead of the POL migration. The market capitalization currently stands at $5,282,862,330, reflecting ongoing investor interest despite uncertainties surrounding the token swap.
Changelly data projects that by 2024, Polygon’s price is expected to range between $0.6225 and $0.7150, with an average trading price of approximately $0.6440.
Long-term Projections
As per Coin Edition prediction , factors like the approval of Ethereum ETFs and the evolving landscape of layer-2 projects could influence MATIC’s trajectory. Predictions for 2025 suggest a potential rise to $3.22, while 2030 projections envision MATIC trading as high as $6.32, driven by increased adoption and technological advancements.
Long-term forecasts extending into 2040 and 2050 speculate on MATIC’s resilience amidst broader market trends, suggesting prices could reach $10 by 2040 and $17.41 by 2050.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
