Bitcoin halving has set a center stage for the whole crypto ecosystem where investors and crypto enthusiasts seem to be banking upon every cryptocurrency to set new benchmark prices. Among these cryptocurrencies, Polygon (MATIC) stands out as a leading crypto asset for its potential to reach new heights.
Polygon is considered one of the most exquisite crypto projects in the primitive of Ethereum scaling and it was also the first major Ethereum layer 2 network. While the Ethereum scaling landscape has now changed with a variety of scaling solutions – like Arbitrum and Optimism – and novel L2 networks, the further growth and existence of MATIC are questioned.
During the past halving and bull run followed by it, MATIC was at the forefront of the cycle while gaining over 17,000% from $0.01 to the peak of $2.70, marking its all-time high – according to data from Coinmarketcap.
In recent years, Polygon has expanded its ecosystem by developing several blockchain scaling solutions. It has majorly focused on scaling Ethereum with zero-knowledge proofs (ZKPs) and it most recently adopted the aggregated architecture to divide core blockchain functionalities.Â
Will The Recently Changed Market Dynamics Help Polygon?
While the catalyst of Modular blockchain is still considered new, Polygon moved two steps forward by introducing aggregated blockchain architecture. Such moves from Polygon will surely make it a leader in new narratives while driving massive activity to the ecosystem and an eventual surge in MATIC price.Â
Could MATIC Price Reach $3?
In the upcoming cycle, it is expected that MATIC price will break the previous high following the potential breakout in the cryptocurrency ecosystem. The currently recorded all-time high (ATH) of MATIC is $2.70 and it is anticipated to break the $3 price mark in the upcoming months.
However, as the reasonable target for Bitcoin price is at the surge of 160% — which doubles its current market cap – the $3 target for MATIC is the least, just 30% away from its previous all-time high. It could also go beyond depending on the market dynamics and the utility demand.Â
The halving is now a couple of days away and the probable spike in Bitcoin price – post the halving – will likely uplift every major crypto asset including MATIC. In the meantime, predicting the perfect top for a particular one seems needless as the market could be affected by several unexpected factors. However, one thing is for sure, MATIC and all other major crypto assets will be highly impacted by the market movements of Bitcoin.Â
Also read: Will Ethereum Reach $10,000 After Bitcoin Halving 2024?
FAQs
How high MATIC price could go after Bitcoin having 2024?
One can not predict the top of any asset as it depends on market dynamics but MATIC is expected to break its all-time high and reach $3 by the end of 2024.Â
Could MATIC price reach $3?
The current all-time high of MATIC is at $2.70 which may be broken by the end of 2024 as it is expected to be $3 in the upcoming cycle.
