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| Polygon Migrates MATIC to POL in September! |
Polygon (MATIC) is undergoing a huge overhaul as it prepares to transition to its own native token, POL, on September 4.
This development is crucial for Polygon fans and investors because it signals a shift in how transactions and staking will be handled inside Polygon Proof-of-Stake (PoS) architecture.
MATIC Coin Migration to POL
According to Airdrop Blockchain, the switch from MATIC to POL will make POL the dominant gas and staking cryptocurrency on Polygon PoS network.
These improvements are intended to streamline operations and improve network performance, creating new possibilities and challenges for currency holders and stakeholders.
Primarily, MATIC holders on Ethereum, zkEVM Polygon, and various exchanges, as well as stakers and delegators, need to take action to adapt to the dynamics of this new coin.
The migration to POL is designed to optimize network functionality, reduce transaction costs and increase staking rewards.
This move is expected to deliver a more robust and scalable ecosystem, making Polygon a more competitive player in the blockchain space.
However, this transition also brings its own challenges, especially for existing coin holders who must navigate the coin exchange process.
Price Analysis and Prediction
Currently, MATIC is experiencing a bearish trend in its price movement, with the latest decline placing it at around US$0.5337. This downward trend reflects a decline of 3.80 percent in the last 24 hours, highlighting the cautious market sentiment towards the upcoming transition to POL.
MATIC price is currently near support at US$0.5330, with resistance mapped at US$0.5548. Analysts suggest that a drop below support could pressure prices further, while a rebound may signal a potential recovery.
Technical indicators such as 1-day RSI at 47.21 and MACD trading above the signal line suggest a neutral to bullish outlook in the short term, indicating possible price volatility amidst market adjustments.
Despite the recent price drop, trading volume increased by 12.87 percent to US$287,144,404 in the last 24 hours, indicating active market participation ahead of the POL migration.
Future Price Projections
Changelly data projects that by 2024, Polygon price is expected to range between US$0.6225 and US$0.7150, with an average trading price of around US$0.6440. Long-term projections show a promising future for Polygon.
Factors such as Ethereum ETF approval and the ever-evolving layer-2 project landscape could significantly influence MATIC path.
Predictions for 2025 show potential upside to US$3.22, while 2030 projections envision MATIC trading as high as US$6.32, driven by increasing adoption and technological advances.
Extending to 2040 and 2050, long-term forecasts speculate on MATIC resilience amidst broader market trends.
Analysts predict that by 2040, the price of MATIC could reach US$10, with a further increase to US$17.41 by 2050. These projections are based on assumptions of continued innovation and adoption within the Polygon network, as well as the broader blockchain industry.
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