MATIC is a Nordic word that means “to be oneself.”
The Matic Network was founded in October 2017, following a White Paper on the Plasma Framework written by CEO Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The pair recognized that Ethereum wasn’t fully scalable and took advantage of PoS side chains linked to the root chain.
The point of this is to distinguish what these differences are and how they might impact the value of your investment.
Stakeholders in the blockchain space are interested in scalability, and they believe that proving side chain stakes will help to improve scaling. They anticipate that by demonstrating sidechain stakes, which they think will lower transaction fees, speed up confirmations, and provide a variety of other advantages after scalability issues have been addressed. They are also one of Binance’s newest ICOs on the launch pad.
The Matic network is also attempting to improve usability without sacrificing decentralization and scaling issues. They intend to leverage the existing developer community to provide more dApp features and a better user experience in the future.
MATIC Price History
On April 29, 2019, Matic network began its foray into the crypto world. The currency steadily climbed again and again. At the end of May, the price dropped by $0.03 with a few fluctuations, and it continued to fall throughout June until it was down to $0.01 at the beginning of July. The token stayed constant for much of July, when it changed hands for $0.02 per unit.
The cryptocurrency’s market capitalization has been growing at an exponential rate since its inception, from around $1 billion to more than $60 billion in less than a year. The bitcoin supply is limited, and it is expected that the price will rise significantly when this resource runs out. In fact, experts believe that the current price of bitcoin might continue to increase for many years to come. At the end of 2021, Matic was trading for about 0.01 US dollar per token; however, things changed dramatically after mid-November when it dropped down to $0.01 on several exchanges (price fluctuations have been observed throughout November).
On a simple note, the Matic continued to trade at $0.014 in the early hours of January 2020. The price fluctuated from thereon and climbed as high as $0.02 in February. Covid-19 epidemic played a role in plummeting the coin’s value by mid-March to $0.006, while the crypto market fell sharply. Furthermore, towards the end of May, when prices were still low, they rose and resisted at $025 before settling around $012 in late November. At the end of December 2020, Matic was trading at $0.017 per unit (numbers may not be exact).
The MATIC price has broken a new record in 2021, ranging from $0.94 to $2.1, with the greatest recovery rate of all cryptos including Bitcoin and Ethereum monsters. It is expected that most currencies will only increase following the significant price drop recently, according to many traders. Polygon is predicted to have a bright future by many traders, who believe it has endured and maintained its trend despite the fact that several coins have fallen by around 20%.