Can the Polygon (MATIC) explode again this year?

Polygon is a scaling solution for the Ethereum Blockchain. The former MATIC network uses so-called "plasma chains" to ensure that Ethereum can outsource transaction loads. These Ethereum sidechains ensure that Polygon's Layer 2 technology can circumvent Ethereum's scaling problems.

Matic

The network was developed in 2017 and was initially just called MATIC. Now only Polygon's network token is called MATIC. It is used for charging and communication in the network. The price of the MATIC token rose massively in the last bull market due to the growth of the network.

The price of the MATIC token, of course, saw heavier losses due to the bear market, like the other major cryptocurrencies. The MATIC token reached its all-time high of USD 2.92 at the end of December 2021. After that, in 2022, the losses began. By mid-June 2022, the MATIC price had fallen below $0.35.

Since June, however, the price has been able to stabilize again. In July in particular, however, the price saw stronger gains again and in August the MATIC Coin temporarily rose above 1 dollar again. The course was then able to hold at the level between 0.80 and 1.00 dollars. Down about 70% from its all-time high, the MATIC coin came through the bear market much better than most other major coins.

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