You posted in 2021, it's 2023 now, and the price of the MATIC coin hasn't experienced a huge price increase, so I think the reason is because the competition in crypto is getting tougher.
That is true, there are so many altcoins offering the same features to adopters that it becomes a big competition where no one is able to outstand among others at all, so ETH continues ruling the altcoins market. MATIC seems a solid altcoin, and might be a promise for the next bull run, although being realistic I wouldn't expect more than the price range it has already hit on the previous ATH, so there is a 300% profit potential ahead, while with bitcoin there is a 400% profit potential ahead to its previous ATH level. Considering this, I think Bitcoin is still a more reliable alternative, because the risks are lesser, while proportionating superior profit chance.
Polygon is one of the market leaders in 2023, you can see that the bottoming pattern of MATIC already happen 3 months ago. The price of the MATIC is also near the All time high so it only means that a lot of investors and traders are now getting MATIC as early as of today. Something is good in MATIC so I hope that the price will keep increasing in these following weeks and months. My bias is really good in MATIC but we have still long way to go so better to manage our expectations for us to not have high hopes regardomg the Polygon. Chart is still the king and risk management is the queen.