Polygon signals an excellent buying opportunity: here’s why

By: Invezz

Polygon MATIC/USD used to be known as the Matic Network but rebranded. It is an easy platform for Ethereum scaling as well as infrastructure development, where its core component, the Polygon SDK is constantly used.

On July 16, we saw the announcement that the Standard Protocol is coming to Polygon. This was the first collateralized rebasable stablecoin protocol that brought ERC-20 tokens onto Polygon to enable low-cost as well as instantaneous transactions across its entire user-base.

At this same date, we also saw the announcement that Project Galaxy will also support Polygon.

By using Polygon’s full-stack Ethereum-scaling solution, Project Galaxy has the main aim of reducing its gas fees and enable quicker transactions across all of its users.

Furthermore, Polka Fantasy announced their integration with Polygon as well, where they would allow users and players to trade and play NFT in Polka Fantasy at high speed with low gas fees.

This in turn indicates a heightened usage of Polygon, and as such, higher demand for the MATIC token which in turn will lead to a higher cost associated with buying it.

It is clear that a lot of projects are migrating towards Polygon, due to its low gas fees.

Should you buy Polygon (MATIC)?

On July 19, Polygon (MATIC) had a value of $0.78. 

To put things into perspective, we will be going over the value MATIC held throughout June. The MATIC token experienced one of its largest values on June 15, where it was valued at $1.70. One of its lowest values was on June 22 where it saw a value of $1.04.

This gives us a clear perspective about what kind of value the token held throughout the month and indicates that it has the potential to climb back to the $1.70 mark.

Furthermore, the MATIC token experienced its all-time high on May 18 of $2.62, which gives us a perspective as to how high MATIC has the potential to climb, assuming all things go in its favor.

This being the case, at the current value of $0.78, MATIC is worth buying due to the fact that it is currently at one of its lowest points in the past few months, and due to the fact that numerous projects are starting to adapt to it as a viable option due to its low gas usage.

Its low gas fees are a point of appeal for many, and as such, we can expect its value to climb to $1 by the end of July, which makes it a worthwhile purchase.

The post Polygon signals an excellent buying opportunity: here’s why appeared first on Invezz.

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