Post
Topic
Board Speculation (Altcoins)
Re: Polygon (MATIC) to $20?
by
Abiky
on 22/11/2022, 01:26:45 UTC
It is unrealistic to expect in the near future, but it is not something impossible to achieve.
Matic supply is large, but the team may burn them to trigger a significant price increase.

It's possible the MATIC team will copy ETH's model by cutting the network's supply of tokens in circulation. They could either burn a large amount of coins, or simply introduce a deflationary mechanism into the protocol. If developers do this, then there's nothing stopping MATIC from reaching $20 and above. Either MATIC becomes a store of value or a currency/utility token for day-to-day payments. I don't mind about the price as long as MATIC remains a practical blockchain for dApps.

Cheap fees and blazing-fast speeds is what makes MATIC a better ETH alternative. Reducing the supply, on the other hand, would make transactions on the Polygon (MATIC) chain more expensive. The community will have to decide what's the best path forward for the cryptocurrency. Who knows how much MATIC will be worth in the future? Just my thoughts Grin