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Polygon
Polygon
MATIC
€ 0,860419
-0,95%

Polygon (MATIC) Price in Euro

Currently, the Polygon price sits at €0.883 per token. This price is a long way from MATIC’s all-time high price of €2.58, signaling a 69% drop since this price came about in December 2021.

However, this is still well above the token's value back in its early days in 2019. MATIC now sits 31,540% above its May 2019 price of €0.0028. Much of Polygon’s price changes depend on the sentiment of crypto investors. Over the last two years, Ethereum pushed the idea of Layer-2 solutions to its scaling issues hard. Part of the reason for Ethereum’s changes to a proof-of-stake consensus mechanism is to help Layer-2 solutions like Polygon settle their transactions onto the Layer-1 chain with less gas. Still, Polygon has had a wild ride on the price charts in just three years. Here’s a taste of what holding MATIC over that time would have looked like:

  • May 10th, 2019: €0.0028
  • August 30th, 2020: €0.022
  • May 18th, 2021: €2.00
  • December 26th, 2021: €2.54
  • June 19th, 2022: €0.364

For now, MATIC’s price seems to solely rely on macroeconomic factors and bear market sentiments from all kinds of investors. It might be a while before MATIC sees a return to a bull status.

Polygon (MATIC) Price Prediction

It’s hard to predict where MATIC will go in price looking into the next year. Bearish sentiments have been around for the entirety of 2022, with no clear sign of when those sentiments will let up.

MATIC seems to be on pace to recover to the €1 mark sometime at the beginning of 2023, but it will take more than new projects or tech breakthroughs to get investors back onto MATIC right now.

What Is the Total Supply of Polygon (MATIC)?

There are currently 7.53 billion MATIC in circulation. This number is the majority of the 10 billion MATIC tokens that will ever exist, meaning that the minting of new tokens won’t affect the overall valuation much moving forward.

Polygon currently holds a €6.57 billion market cap. This value represents a lot of money, making Polygon the thirteenth-largest blockchain project by market cap.

However, Polygon is small when compared to other financial services. Mastercard (MA), which handles hundreds of thousands more transactions than Polygon, maintains a €313 billion market cap, or almost fifty times more than what Polygon sports today.

Looking at some of the other tech companies, especially big names like Google, the number feels even smaller. Google (GOOG) currently sits at a €1.42 trillion market capitalization, making it the fourth-largest company in the world by market cap valued roughly 216 times more than Polygon.

Still, this doesn’t mean that Polygon’s MATIC token can’t grow into a higher evaluation. The blockchain project already supports roughly 7,000 projects, each of which could provide services or entertainment for more users sometime in the future.

MATIC may be worth a small amount now, but that doesn’t mean it always will be inexpensive.

How does the market cap compare to traditional markets?

However, Polygon is small when compared to other financial services. Mastercard (MA), which handles hundreds of thousands more transactions than Polygon, maintains a €313 billion market cap, or almost fifty times more than what Polygon sports today.

Looking at some of the other tech companies, especially big names like Google, the number feels even smaller. Google (GOOG) currently sits at a €1.42 trillion market capitalization, making it the fourth-largest company in the world by market cap valued roughly 216 times more than Polygon.

Still, this doesn’t mean that Polygon’s MATIC token can’t grow into a higher evaluation. The blockchain project already supports roughly 7,000 projects, each of which could provide services or entertainment for more users sometime in the future.

MATIC may be worth a small amount now, but that doesn’t mean it always will be inexpensive.

Is Polygon (MATIC) a Good Investment?

As mentioned, MATIC has several factors that point towards a bright future. Polygon Labs has a new, highly-credentialed CEO and thousands of projects running on its blockchain. Given that Polygon works on top of the Ethereum blockchain, Polygon should see some success so long as Ethereum continues to do well.

However, volatility and investor sentiment still make up a majority of the price action in the cryptocurrency market. A bad decision from Polygon Labs or the dropping of Ethereum for other projects could lead to a loss in MATIC’s value.

When it comes to crypto, and before you buy MATIC, doing your research and forming your own conclusions will be the safest way to invest.