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At the end of Q1 2022 Polygon announced new features on its Twitter (@0xPolygon) – mobile burning capabilities for MATIC tokens and the introduction of a new Token List service. That means the MATIC burn console is now available for Polygon’s mobile wallet suite, complete with a fresh interface.

Despite recent roadmap updates and upgrades the Polygon price (its native coin MATIC) corrected over 50% in 2022, opening the year at $2.5 and currently trading at $1.1 – $1.2 in the second quarter. In April 2022 it lost 36% of its value despite bullish news. Is the recent dump part of a standard correction in the crypto markets? Will Polygon coin go up in 2022? Is MATIC a good investment?

In this guide we’ll speculate on the future price forecast with our own Polygon price predictions.

Polygon Price Prediction – Overview

  • Based on the current 2022 low $1.01, and the Polygon all time high of $2.92, the MATIC price has retraced 66% from its top. Similarly Bitcoin retraced 53%, and Ethereum 56%
  • Even altcoin projects with strong fundamentals can retrace 95% before beginning a new bull cycle – Ethereum corrected from $1,440 to $81 during the 2018 bear market
  • Polygon is still ranked #17 on Coinmarketcap with a market capitalization of $9 billion – room to decline in value further, and to increase
  • Compared to its 2020 open of $0.013, and its 2021 open of $0.017, Polygon is still up 70 – 90x in valuation, after a 225x bull run in that time period and even higher since 2019
  • In the long-term those investing in Polygon are still optimistic it could hit double digits, e.g. Lark Davis (@TheCryptoLark) tweeted he is holding MATIC expecting it to hit $10
  • To overcome volatility, a high APY of up to 16% is possible when earning interest on Polygon.

Cryptoassets are a highly volatile unregulated investment product.

Polygon Price Chart

Polygon price chart

Polygon price history 2020 – 2002, a 225x bull run from $0.013 to $2.92

Polygon Upgrades – Latest News

Polygon has been active in making partnerships across the crypto industry and stayed up to date with blockchain tech trends. Recent Polygon news announcements included these updates:

  • Launch of the Alpha and Beta versions of the Polygon Mainnet
  • Support for deposits and withdrawals of all Ethereum-based assets
  • Support of ERC721 to ERC20, ERC20 to ERC20, and ERC721 to ERC721 transactions enabled
  • Increasing the number and capabilities of Proof-of-Stake validators
  • Offering the API and SDK toolkit for dApp infrastructure development
  • Launching a new blockchain network, Supernets, and Polygon will invest $100m in companies that use it

Polygon Price History

Since its launch in 2017, the MATIC project (which rebranded to Polygon in February 2021 for more global brand recognition) is up over 100,000%. Its native cryptocurrency still has the ticker symbol MATIC. The initial price of MATIC coin was $0.002, when it first started trading on crypto exchanges.

Since Coinbase began tracking its price – there is a slight delay in Coinbase adding tracking after a project first starts trading – it’s up 33,000%, as the MATIC price chart below shows.

MATIC price chart

Polygon price chart via Coinbase

Most of that rise in value took place during the 2021 crypto bull run, when the total crypto market cap rose to $3 trillion, Bitcoin to $69,000 and Ethereum to $4,800.

MATIC has a total market cap of $9billion with an average daily trading volume of $700 million.

All MATIC coins were released into circulation by December 2022, so the max total supply of 10,000,000,000 MATIC tokens is equal to the circulating supply.

Polygon has in the past had a marketcap twice as high, for example $18.5 billion in December 2021 following news that dApp (decentralized application) Uniswap was live on Polygon and the internet browser Opera was integrating Polygon, including in a crypto wallet.

Opera Polygon

Polygon’s partnership with Opera browser

MATIC Price Prediction 2022

Polygon’s EIP-1559 upgrade in January 2022 made MATIC deflationary with a token burn similar to Ethereum’s EIP-1559.

That burning of tokens in the supply over time, combined with the total supply all being unlocked and in circulation, should help to prevent a further downtrend in price and in the long-term be bullish or at least keep the price more stable.

The crypto markets rallied after the May FOMC meeting, BTC and ETH moving up 5-6% and holding monthly support levels. If they continue to bounce other altcoins like MATIC should also. It’s possible by the end of 2022 the Polygon price moves back above the $1.50 level.

Polygon EIP-1559

In the bearish case for Polygon, the deflationary effect of Polygon EIP-1559 may not be enough to lead to a price rise. As Yahoo Finance pointed out, only 0.27% of the supply will be burned per year, so it could take several years for that to result in price appreciation.

MATIC Price Prediction 2023 – 2024

In the bullish case for Polygon, the next Bitcoin halving is in 2024 and the previous halving sparked the Bitcoin bull run to $69k from $10k. The total crypto markets also rose in valuation to $3 trillion, increasing the USDT prices of most major blue chip altcoins with it.

Lark Davis has 488,000 Youtube subscribers and 970,000 Twitter followers. While one trader can’t move the market despite their following, he tweeted he is bullish in the long-term on $MATIC, expecting it to hit $10 in the long run.

Polygon Price Long Term Prediction – 2025

The most optimistic investors in Polygon speculate that it could one day flip Ethereum. That may not be realistic however it’s based on the high gas fees of Ethereum. Polygon has lower transaction costs.

While at one point Ethereum had a high almost 100% dominance across the DeFi space, that has increasingly been reduced by the rise of Layer-2 DeFi projects like Polygon, Solana, Polkadot and others.

The current Ethereum market cap is over $350 billion, almost 40x higher than the MATIC market cap. So if MATIC flips ETH from its current price point, without a drop in the Ethereum price, that would put the MATIC price at around $40 – $50.

Polygon Technical Analysis

In May 2022 crypto trader @rektcapital tweeted that MATIC lost its trend line and horizontal support level which it would need to reclaim soon to avoid flipping into a new resistance level.

Polygon Price Prediction

The next areas of support are around $0.65 – $0.70 and $0.40 if the MATIC price does continue its bearish downtrend.

What is Driving the Price of Polygon?

Recent Polygon price changes were likely to be triggered by news and media announcements:

  • 29 December 2021 – Polygon revealed that two white hat hackers had exposed a critical network vulnerability which it then fixed on 3 December. Polygon said the malicious hacker was able to steal more than 800,000 MATIC tokens before the network upgrade took effect. It added that it had paid around $3.46 million as a bounty to the two white hats who helped discover the bug.
  • 10 January 2022 – Polygon revealed Plonky2, what it called a major milestone for zero-knowledge cryptography.  Plonky2 is a recursive SNARK (a cryptographic proof that one user has some specific information without having to reveal what that information is) that is ‘100x faster than existing alternatives and natively compatible with Ethereum.’
  • 27 January 2022– Polygon revealed that in December it had over 7000 dApps active on the MATIC network, twice the amount of three months before. It stated that after increasing congestion on the Ethereum blockchain and high gas fees, many DeFi and non-fungible token (NFT) projects had moved over the Polygon blockchain instead.
  • 7 February 2022 – Polygon raised a $450m war chest through a private sale of its MATIC tokens to pave the way for the mass adoption of Web3 applications.  The founding round was led by Sequoia Capital India and included over 30 other investors such as SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, and Tiger Global. It said the funds will also allow it to continue investing in zero knowledge (ZK) technology that it said ‘will be key to onboarding the next billion users to Web3.’
  • 23 February – Wirex, a payments platform and non-custodial cryptocurrency wallet, announced it is going live on Polygon ‘to bring low fees and high transaction speeds to more than 4.5 million users across its ecosystem.’ Wirex customers in 130 countries can use the mobile app to store their cryptos.

Polygon vs Ethereum

Polygon exists above Ethereum as a Layer 2 blockchain. The Ethereum blockchain lying below is the one that ultimately secures and processes transactions -but to increase the number of transactions per second that a network can process, developers are now also designing secondary layers on top of existing blockchains.

Also being called the ‘Internet of Blockchains’, the aim of Polygon is to connect various blockchain projects on Ethereum. All these projects have different features but they aren’t necessarily interoperable. Polygon is not the only one attempting that use case – there are other projects moving in the same direction, like Polkadot and Cosmos. By being compatible with Ethereum, Polygon aims to improve upon it and eventually tap into the second-largest blockchain’s ecosystem and security.

Polygon vs Ethereum

To simultaneously secure the network as well as mint new coins with time, Polygon uses the proof-of-stake consensus algorithm. This method requires users to lock up their tokens so that they can be nominated randomly to validate new blocks of data.

Future of Polygon – What’s Next for MATIC?

The Polygon Network has transformed decentralized finance (DeFi) and NFTs because it is a fast, efficient, and cheap scaling solution for the Ethereum blockchain. It has simplified and amplified access to NFTs, some of which are Polygon based NFTs.

As more people venture into DeFi and NFTs, the Polygon user base will expand due to its cheap transaction fees. This surge in onboarding will be through L2 networks like Polygon, as institutions begin building on them. The biggest NFT marketplace, Opensea, has over 350,000 total accounts registered on it. The potential number of market participants for NFTs is much higher.

One of the biggest downsides of the Ethereum network, which often turns potential buyers away, is the transaction fees. L2 solutions to gas fees were inevitable.

Even Coinbase has now launched its own NFT Marketplace, ‘Coinbase NFT’, and may support the Polygon Network. After Coinbase’s venture capital investment in Polygon, an announcement of integrating Polygon for trading was made.

etoro logoHow to Buy Polygon

eToro is an FCA, ASIC and CySEC regulated crypto platform that makes it possible to buy, sell and trade Polygon securely. eToro listed MATIC in June 2021.

eToro also has an Academy with educational material for beginners to learn to trade and invest, and the option to copytrade professionals trading MATIC.

eToro Polygon

As a social trading platform, all users have a Facebook-style wall and news feed where they can post their thoughts on the market as well as get Polygon price predictions from other users on the platform.

Currently 685,000 eToro users are following the Polygon price action, with 5.74% of those investing in Polygon. Some of those will post their own Polygon price forecast to their profile.

Cryptoassets are a highly volatile unregulated investment product.

Is Polygon the Best Crypto to Buy in 2022?

Some investors might prefer to invest in a project that has not already risen in value around 40,000%, debatably it is better to be an early investor in a new project even if its utility hasn’t been shown yet.

Lucky Block is a decentralized crypto gaming and competitions platform who use case aims to be improving the transparency in games involving cash prizes, and allow all participants to win in some way including passive income rewards for holding its native token LBLOCK or one of its NFT collection.

Launched in late January 2022, it is set to demonstate its use case in mid May 2022 with its first prize draws, including one that will give away $1 million.

Lucky Block

Aside from the value of the prize draws and other giveaways and perks, the valuation of the LBLOCK token itself rose from $0.00015 at presale to an all time high of $0.0097, a 65x gain. It’s currently trading at $0.0015, up 10x versus its launch. That’s lower than the Polygon price today being up around 400x.

Lucky Block also has a market capitalization of only $57 million (ranked #3415 on Coinmarketcap) in comparison to the $9 billion market cap of Polygon (ranked #17). So it has room for growth. It would be equivalent to buying MATIC in the few cents range.

To buy LBLOCK, follow these steps:

  • Set up a Crypto Wallet: Download a BSC compatible crypto wallet, such as MetaMask or Trust Wallet
  • Buy Binance Coin: Buy BNB from a crypto exchange such as eToro and send it to your wallet
  • Connect Wallet to PancakeSwap: Once you have BNB, visit and click ‘Connect Wallet’. Follow the on-screen instructions to link your wallet
  • Enter Contract Address: On the PancakeSwap DEX, enter the LBLOCK contract address – 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
  • Buy LBLOCK: Choose how much BNB to swap for LBLOCK and confirm the order

You can also buy with fiat using the portal on the official website at the link below.

lucky block logo

Cryptoassets are a highly volatile unregulated investment product.


Many investors have made bullish Polygon price predictions of up to $10 and even beyond, although its 50% correction since its last ATH could continue in the short-term. You can bounce ideas off other investors following the MATIC price action social trading platform eToro.

A Polygon alternative is low cap altcoin LBLOCK which called a ‘high risk and high upside crypto bet worth taking‘. It is yet to put in 100x gains which Polygon already has.

Keep a diversified portfolio and split your crypto investment funds up into several projects. Partly the major blue chip cryptos like BTC and ETH, partly middle range projects like Solana and Polygon, and partly low market cap coins that are early in their roadmap.

To beat the short term price volatility, you can earn up to 16% interest on your MATIC holdings on Nexo, as well as interest on BTC, ETH, and other cryptos.

Cryptoassets are a highly volatile unregulated investment product.


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