Polygon has taken a dive since being pushed to a new all-time high of $2.92 on 27 December. It has since lost over 25% to today's (6 January) price of $2.15 following news of a malicious hack on the network in early December. Look no farther than this guide for info on Polygon’s future price trajectory and the top places to buy Polygon today.
Top places to buy Polygon now
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What is Polygon?
Formerly called Matic Network, Polygon is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon smart contract, interact with them within Polygon, and then later withdraw them back to the Ethereum main chain. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
The Polygon network allows you to do many of the same things the main Ethereum network allows, but with fees that are often a fraction of a cent.
Should I buy Polygon today?
Most analysts are bullish on Polygon despite its 15% loss on January 6. Take all investment advice with a grain of salt and do market research before investing in it.
Polygon price prediction
According to Wallet Investor, a long-term increase is expected. They predict 1 MATIC will trade for just under $13 in 2027. A 5-year investment will thus generate revenue of around +519%. An investment of $100 will reach $619 in 2027 if their prediction comes true.
Polygon on social media
— Kally (@AltwayKR) January 6, 2022