MATIC Price: MATIC Rises Up By 100% In Less Than 24 Hours
The price of the cryptocurrency MATIC went up by more than 100 percent in a span of 24 hours on May 24. Read on to know the reason behind this steep rise in MATIC price.
The cryptocurrency market is still recovering from the historic May 19 market crash, where the whole crypto market dropped significantly after a tweet of Elon Musk. Bitcoin, Ethereum and many prominent cryptocurrencies dropped down to half of their all-time high prices in the crash. The markets have already started recovering with Bitcoin up from a low of $30,000 to around $39,000 today. Surprisingly, one cryptocurrency – MATIC has risen above all others and gained over 100 percent returns in one day, on May 24. Even before the crash, MATIC had reached a new all-time high of USD $2.73. Read on to know why MATIC is pumping and what makes MATIC so special after Bitcoin and Ethereum.
MATIC rises more than 100 % in 24 hours
The price of MATIC went up from USD $0.94 at the start of May 24 to about USD $2.1 at its peak, yesterday. High usability and investors perception’ of the crypto being undervalued were the factors behind this meteoric rise in MATIC price. Many crypto experts believe MATIC has very high potential in the near future.
Originally known as Matic Network, the token is now called Polygon after the MATIC-Polygon merger. The rise in the price of Matic is mainly due to rising in popularity of Ethereum. Matic/Polygon is a highly scalable L2 Network for Ethereum that drastically reduces transaction fees for users looking to transfer cryptocurrencies anywhere around the globe. Matic/Polygon has a lot of advantages over other networks in terms of security, scalability and user experience. Matic/Polygon is working with a lot of companies and on a ton of interesting projects to scale up their network and reach globally.
MATIC Price Prediction
Crypto price predictions can be incredibly difficult, especially after the recent crypto crash of May 19. However, many crypto experts have given their predictions for high long-term gains from MATIC. As per capital.com, MATIC can reach an all-time high price of USD $10 by the end of 2021. Many other crypto experts have given the same prediction, believing that MATIC is highly underrated, given the features it provides to the user. Stay tuned for updates on MATIC and the crypto market.
