While investors got caught up in meme coins and small players, many overlooked mid-sized cryptos. Some of the biggest movers of 2021 flew largely under the radar as investors flocked en masse to coins like Dogecoin (CCC:DOGE-USD). Really though, the big underdog of the year has proven to be Polygon (CCC:MATIC-USD). The layer-two scaling solution is proving to be both a viable option for scaling transactions and a crypto with massive growth potential. There’s no wonder why buyers are now seeking out Polygon (MATIC) price predictions.
Dogecoin grew from under 1 cent to an all-time high of 73 cents in a matter of days. It got tons of attention because it’s a coin with a cute mascot, a long history and a dedicated fanbase. However, its gains don’t hold a candle to Polygon’s gains since the beginning of the year. MATIC started 2021 at just under two cents. It boomed to a high of $2.68, representing growth of over 13,300%.
MATIC Gets Boosts Alongside Ethereum
Now, MATIC is becoming one of the most sought-after cryptos and one of the digital currencies that analysts say has the most growth potential. As FXStreet reports, the Daily Active Addresses (DAAs) of the Polygon network has grown 803% since Jan. 1. In the same time, the monolithic Binance (CCC:BNB-USD) network’s DAA has grown only 171%. This statistic is telling of the network’s massive growth in popularity and points directly to the growth potential in MATIC values.
Also giving Polygon room to boom is the rapid growth of Ethereum (CCC:ETH-USD) prices recently. Polygon is a scalability solution for the Ethereum chain; it exists as a response to problems with transaction bottlenecking on the Ethereum chain. As such, its success grows alongside Ethereum’s. The network is becoming more compatible with Ethereum, too: the creation of a new cross-chain transfer platform, called Hyphen, is making it easier than ever for users to send stablecoins back and forth between the Ethereum and Polygon networks.
Polygon (MATIC) Price Predictions: Will MATIC’s Success Catalyze Further Gains?
The boom in growth and the network’s ability to share Ethereum’s success make it a cryptocurrency with huge growth potential. In fact, MATIC is flexing this potential today with a gain of over 22%. The 28-cent surge is sending MATIC to a value of $1.41, thanks to a 157% increase in trading volume. But what do analysts think about Polygon (MATIC) price predictions? Let’s take a look:
- WalletInvestor thinks that by August of 2022, MATIC will shatter previous all-time highs. The outlet pegs Polygon for a $3.40 value.
- DigitalCoin does not share the same bullishness, although they do predict growth. They say that by the end of the year, MATIC will be up to a value of $2.04.
- Gov Capital is more bullish than most; the outlet forecasts a price of $3.73 by August of 2022.
- In the immediate future, InvestingCube predicts that MATIC will surge to $1.75 before encountering any resistance.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.