Polygon (MATIC) witnessed a bullish year following a 70% surge. Despite this, the asset remains 85% below its peak of $0.00008845. MATIC surged to a high of $0.00003592 earlier this year. The asset was trading at $0.00001312 at press time, with a 3.65% rise over the past 24 hours.
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Polygon’s Bullish Year, Technical Upgrades, And Future Predictions
Polygon’s Major Technical Upgrade
This dip comes amidst a major technical upgrade in the Polygon network. As of September 4, the token was upgraded on a 1:1 ratio to its new Polygon Ecosystem Token (POL). This will serve as the network’s native gas and staking token.
In addition, the token will have a new 2% yearly emission rate. A portion of that amount will go to the community treasury, and a portion will be awarded as an incentive to validators on Polygon PoS. The network said,
“POL replaces MATIC as the native gas and staking token for the Polygon PoS network. In subsequent phases, POL will serve a crucial role in the AggLayer (part of the Polygon roadmap).”
It should be noted that there is no strict deadline for MATIC holders to upgrade their tokens. Without any further action, all staked MATIC will immediately convert to POL.
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Future Price Predictions For Polygon’s MATIC
According to data from Changelly, the price of MATIC may surge to a high of $0.4751 in September 2024. While this is close to the $0.5 mark, the asset still has some work. That might, nevertheless, fall to $0.4001.
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The predicted Polygon average for September 2024 is close to $0.4751. This range is higher than the asset’s current price, so MATIC will witness a bullish September.
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