What future for MATIC?


Polygon Labs has recently launched the deployment of smart contracts on behalf of its new cryptocurrency, POL, on the Ethereum main network, raising questions about the future for MATIC.

Following this announcement, the team also confirmed the migration of the POL token contract to this network, thus suggesting a imminent transition from MATIC to POL. This is a major development that marks an important step in the platform’s trajectory towards new horizons.

Polygon’s POL cryptocurrency deployed on Ethereum

The POL token represents a new era for the Polygon ecosystem. It was designed to succeed the MATIC token and align with the innovative architecture of Polygon 2.0. The result of months of intensive development, community consultations, and a successful testnet deployment, POL is much more than a crypto.

It is a next-generation token, suitable for powering an expanded ecosystem of ZK-based L2 chains. Thanks to its native re-staking protocol, POL holders can validate multiple strings, taking on multiple roles within each, making POL an extremely productive and versatile token.

Following several recently adopted improvement proposals, notably PIP-17 and PIP-19, the central role of POL has been consolidated. These updates mark it as the primary staking cryptocurrency within the Polygon 2.0 ecosystem. The latter being himself a major update, dedicating the new phase of blockchain development.

The MATIC token abandoned?

Since the announcement of its development in June, the POL token has been the future of the platform for those responsible for Polygon Labs. Also, it is quite clear that the Polygon ecosystem is currently in transition, and the POL token will gradually take an important place in the network in the future.

However, at present, the token MATIC remains predominant within the network. It is used for staking on Polygon zkEVM and Polygon PoS, and also serves as a means of payment for all gas fees on the network.

Technical analysis of the MATIC price

From a technical perspective, MATIC price has gone through some turbulence recently. After reaching highs in mid-August around $0.65, it saw a correction, although supported by support at $0.5.

The 24-hour trading volume also saw an increase, reaching more than 600 million dollars last Tuesday before falling to 283 million in the last 24 hours.

However, the price of MATIC demonstrates strong resilience, holding firmly above key levels including the 21-day and 100-day EMAs, settling at $0.562 and $0.599, respectively. Confirmation of this support, especially at the 100-day EMA, portends a continuation of the uptrend with projections extending well beyond $1.

The Relative Strength Index (RSI) also indicates a domination of buyers, thus reinforcing the bullish outlook. However, resistance exists notably at $0.65 and the 200-day EMA at $0.7, which bulls will need to cross if they want to progress.

Anticipation around the cryptocurrency’s Polygon 2.0 update and the general positive sentiment associated with it could intensify demand for MATIC in the coming weeks. Indeed, many investors are watching this transition in the hope of a windfall linked to the new POL token, however it is still difficult to know if MATIC will be fully used in this new ecosystem or if POL will completely replace it in the long term.

yPredict, the platform of the future for traders

The technological revolution in the field of machine learning has redefined the dynamics of investments, especially in high volatility areas such as cryptocurrencies.

Faced with this growing trend among investors to favor projects linked to artificial intelligence, many platforms now combine AI and price prediction to develop more sophisticated investment strategies.

Among these innovators, yPredict stands out as a promising startup in predictive analytics using artificial intelligence to improve cryptocurrency investment strategies. Currently in the middle of a fundraising campaign, with 4.5 million dollars already raised and a goal close to $4.58 million, yPredict positions itself as an avant-garde platform. Once the objective is reached, the price of its token will increase from $0.10 to $0.11.

Ultimately, what makes yPredict particularly attractive is its commitment to going beyond conventional crypto services. Offering everything, from crypto signals to in-depth sentiment analysis of the main cryptocurrencies, yPredict considerably broadens the field of possibilities in terms of investment and price prediction.

Sources: CoinMarketCap / yPredict

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This article does not constitute investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Cryptocurrency investments involve risks and may result in significant losses. You should only invest what you can afford to lose and carry out your own research before making any investment decisions.





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