Polygon (MATIC) Live Price, Indicators and Analysis - FXleaders

Polygon Price (MATIC/USD)

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OPEN
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HIGH
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LOW
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<% (signals.list.current.absolute).substr(0,9) %> (<% signals.list.current.percentage|toFixed:2 %>%)
TYPE Crypto
GROUP Majors
BASE Polygon
SECOND
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MATIC/USD Signals

DON'T WANT TO MISS ANY SIGNAL? GO PREMIUM
ACCESS ALL FX, COMMODITIES & CRYPTO SIGNALS. GO PREMIUM
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Long Term
Entry Price
Stop Loss
Take Profit
PREMIUM
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PREMIUM
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PREMIUM
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Description
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LATEST ANALYSIS
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MATIC/USD Technical Analysis

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Market Trend
Strong Sell
Sell
Neutral
Buy
Strong Buy
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Market Sentiment

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SELL: <% indicators.sentiment.sell.length %>
NEUTRAL: <% indicators.sentiment.neutral.length %>
Strong Sell
Sell
Neutral
Buy
Strong Buy

Trend Indicators

NAME
VALUE
ACTION
Bollinger Bands
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MIDDLE: <% indicators.data[indicators.interval.active].bbands.value.middle %>
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Sell
Buy
Parabolic SAR
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Sell
Buy
Standard Deviation
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High Volatility
Low Volatility

Oscillators

NAME
VALUE
ACTION
RSI(14)
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Sell
Buy
MACD(12,26)
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Buy
Sell
Neutral
ATR
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High Volatility
Low Volatility
STOCH(9,6)
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Buy
Sell
ADX
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High Volatility
Low Volatility

Moving Averages

PERIOD
SIMPLE
EXPONENTIAL
MA5
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MA10
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MA20
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<% indicators.data[indicators.interval.active].ema20.value %> Buy Sell
MA50
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<% indicators.data[indicators.interval.active].ema50.value %> Buy Sell
MA100
<% indicators.data[indicators.interval.active].sma100.value %> Buy Sell
<% indicators.data[indicators.interval.active].ema100.value %> Buy Sell

Pivot

PIVOT
CLASSIC
FIBONACCI
CAMARILLA
WOODIE
S3
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S2
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S1
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PP
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R1
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R2
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R3
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About Polygon

Polygon (MATIC) is a cryptocurrency that powers the Polygon Network and operates on the Ethereum platform. Polygon Network is the first of its kind that provides an easy-to-use and well-organized platform. On its network, Matic token plays a significant role in enabling governance by voting, gas fee payment and securing the Polygon system through staking.

New MATIC tokens are being released on a monthly basis. It has a live market cap of close to $7 billion and is currently ranked 16th largest crypto in the world. In May 2021, MATIC’s price reached an ATH (all-time high) of $2.62. Currently, MATIC has a circulating supply of 6.3 billion and a total maximum supply of 10 billion coins. Polygon’s MATIC is available to purchase and trade on many crypto exchanges around the world.

Polygon is now one of the fastest-growing blockchain ecosystems, and as more individuals use or invest in it, MATIC’s rate will rise and may surpass its ATH price.

MATIC Breakdown

The Polygon project aims to enable an open and borderless ecosystem in which users can interact smoothly with decentralized partners without the need for intermediaries. MATIC is the primary token of the Polygon network that is known to be a utility token and plays a vital function within Polygon’s ecosystem.

The Polygon Network was created to minimize the cost and transaction time on Ethereum. Therefore, it transforms Ethereum into a fully developed multi-chain system. Polygon now has a wide-ranged collaboration with partners that offer DeFi, DAO, DApps and NFT projects. Making its ecosystem one of the largest in the world when it comes to multi-chain systems. This blockchain intends to integrate more than one scaling solution, in line with minimizing barriers or middlemen and attempting to reduce transaction fees to be cheaper.

Polygon shows immense progress and MATIC’s rate is likely to increase due to its growing ecosystem. This is also partly because of the Ethereum network’s popularity and the acceptance of its blockchain in the crypto world.

Polygon History

Polygon is based in Mumbai and was originally launched in 2017, as many people know it as the Matic Network. This network was built by four engineers namely Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun. Later on, Mihailo Bjelic was also added as a co-founder of Polygon. The founders aim to obtain the third-largest crypto next to Bitcoin and Ethereum.

In February 2021, they changed the company’s name to Polygon, to increase its reach and be known globally. In the same year, instead of just being a simple scaling solution, Polygon became a platform for developers to create and launch their interoperable blockchains.

The Polygon project strives to boost mass adoption of cryptocurrencies by fixing the trouble of scalability on various blockchains. It has collaborated with big companies and set huge milestones since it started. The latest announcement on May 29 was a breakthrough for Polygon, as it will integrate its assets into Google Cloud's BigQuery. Giving BigQuery’s users access to numerous blockchain-related data. In the same month, a well-known billionaire invested in Polygon, as he was impressed with the high TPS that Polygon can do and the fast-growing projects in its ecosystem.

Polygon now has nearly 790,000 users and 76 million transactions (and still increasing).

MATIC Price Factors

Polygon’s rate can vary rapidly and it depends on many factors that may affect it. Polygon boasts itself as a Layer 2 scaling solution built on Ethereum. This means the transaction is faster and the fee is lower. This put value on MATIC and the Polygon project.

Availability

The MATIC token has a fixed supply of 10 billion and 6.3 billion from it is now in circulation. Having a fixed supply can theoretically increase MATIC’s value, but it still depends on other factors like the project’s success and advancements. Another factor is the throughput of Polygon’s network transactions using MATIC to pay for transaction fees.

Acceptance

MATIC’s rate is directly impacted by the demand for it by those using the Polygon network and people wanting to participate in staking. Faster and cheaper transactions facilitated by Polygon’s side chain architecture can immensely help MATIC’s price as more individuals believe in this project's objective, usability and solution.

Government regulations

MATIC and other cryptocurrencies were banned in India, where Polygon’s HQ is located. Until 2018, when India’s Supreme court finalized their decision that lifted the ban and legalized it. The crypto industry flourished along with people investing in MATIC helping boost Polygon’s rate. Other countries have different regulations while some only regulate crypto exchanges, which means the utilization rate can certainly impact MATIC’s rate.

News in the media

Polygon has been getting into big collaborations and partnered with different known companies. News like these can boost Polygon’s price as more and more companies want to benefit from its robust platform. As its popularity rises through social media and news, big or small investors are on the lookout for Polygon’s capability towards adoption.

Trading MATIC

Polygon’s ecosystem has rapidly grown since it started and MATIC’s price plays along with it. More traders are now keen to trade MATIC as the project shows fundamental value. If you want to start your trading journey, consider which market you are going to trade in and put more time into knowing them including analyzing MATIC’s price chart. Choose a reliable broker by doing thorough research particularly its legality and the fees involved, as it plays a big part in how much you are really going to earn.

Similar to any cryptocurrencies, Polygon’s rate fluctuates visible on MATIC’s chart as it's been affected by various factors. Start to determine how much risk you are willing to take on each trade and create your own risk management plan. Knowing the risk-reward ratio can help you trade MATIC effectively. Follow reliable websites for the latest market movement, project collaborations and news that can also impact MATIC’s rate.

MATIC/USD - FAQs

What is Polygon?

Polygon offers high throughput, smooth user experience, high security, scalability and has public sidechains. It strives to maintain its trust-less and decentralized operations providing faster transfers, low fees and interoperable solutions. MATIC token is used for staking, paying gas fees and governance through a voting system.

How can I trade Polygon?

MATIC is available to trade on almost all crypto exchanges worldwide. First, you need to have an account on your chosen crypto exchange that supports MATIC. Next is to put funds in order to buy MATIC. Once confirmed, you can now trade or securely store it at your disposal.

How can I store Polygon?

You can store your MATIC tokens on your crypto exchange after purchasing them, however, we advocate using a dedicated wallet for safety and long-term storage. You may choose a hardware wallet if you are holding a huge amount to securely store it.

What can you buy with Polygon?

MATIC tokens are used as a currency to pay services on Polygon. It also serves as a settlement currency among users inside the Polygon ecosystem. MATIC helps you to scale your DApps immensely. You can even utilize your own tokens as settlement fees to operate the Network.

Is it legal to buy Polygon?

The legality of buying Polygon will differ per country and its regulations around their local crypto exchanges. Some countries don’t have any regulations on cryptocurrencies including MATIC. Is it best known to do in-depth research particularly on the crypto exchange you want to sign up for that offers MATIC.

Is Polygon regulated in the UK?

The United Kingdom has not passed a specific legislative relative to Polygon as a currency. UK’s AML rules require all crypto-asset businesses to complete the registration in order to continue their operations. No specific regulations on trading and investing in crypto including Polygon.

What are the risks in trading Polygon?

There is a potential risk in trading MATIC and it’s not going to be protected from any future declines. Polygon shows a potential benefit to traders as some coins can become extinct, still, all types of trading have risks. Therefore, you must understand all the market risks, learn to analyze MATIC’s price chart and do your own research. Consider your financial standing as well and know your limitations prior to trading Polygon.