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Polygon Ecosystem Token Price Prediction 2024: POL Price Analysis

Last Updated June 17, 2024 1:03 PM
Giuseppe Ciccomascolo
Last Updated June 17, 2024 1:03 PM

Key Takeaways

  • POL came out in the autumn of 2023.
  • The token is still considerably smaller than MATIC.
  • What’s next for the Polygon Ecosystem Token?
  • One Polygon Ecosystem Token price prediction says POL can reach $4.02 in 2025. 

The Polygon Ecosystem Token came out in the autumn of 2023. The crypto was designed to support recent upgrades to Polygon. However, the original Polygon coin, MATIC, is still popular with crypto investors. POL will need to show that it can take over from the better-known coin. 

Polygon did not respond to a request for comment.

On June 17, 2024, POL was worth about $0.5955.

But what is Polygon Ecosystem Token (POL)? How does Polygon Ecosystem Token work? Let’s see what we can find out, and also take a look at some of the Polygon Ecosystem Token Price Predictions that were being made as of June 17, 2024.

Polygon Ecosystem Token Price Prediction

Let’s examine some of the Polygon Ecosystem Token price predictions being made by CCN.com on June 17, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum POL Price Prediction Average POL Price Prediction Maximum POL Price Prediction
2024 $1 $2.50 $2.79
2025 $0.85 $3.43 $4.02
2030 $2.15 $3.48 $10.12

Polygon Ecosystem Token Price Prediction for 2024

If the positive momentum continues and Polygon Ecosystem Token breaks above its moving averages, it could reach targets between $1 and $2.79 by the end of 2024, with the average price set at $2.50.

Polygon Ecosystem Token Price Prediction for 2025

Technical analysis suggests a potential increase for POL in 2025. The minimum Polygon Ecosystem Token price expected for 2025 is $0.85 while the maximum one is $4.02. In the middle, it may reach $3.43.

Polygon Ecosystem Token Price Prediction for 2030

Based on technical analysis, the POL token may reach a maximum level of $10.12 at the beginning of the next decade, while, in the worst scenario, it may go to $2.15. The average expected price is $3.48.

Convex Finance Price Analysis

The current technical analysis for POL/USDT paints a promising picture for bulls. Several technical indicators suggest a strong uptrend, making long positions a potentially lucrative strategy.

The key support level sits at $0.717709. As long as the price remains above this level, the bullish momentum is likely to continue. The buyers’ initial objective is set at $0.738289. A decisive break above this resistance level would further strengthen the uptrend.

If the price surpasses the first target, the next hurdle is at $0.743253. Overcoming this resistance can lead to a more significant price increase. The ultimate bullish target sits at $0.922870 USDT. Reaching this level would signify a substantial price increase.

POL price analysis
POL price analysis. | Credit: Giuseppe Fabio Ciccomascolo

Price/Performance Comparisons

Current Price One Year Ago Price Change
Polygon Ecosystem Token $0.5955 Not Available Not Available
Polygon $0.5981 $0.5968 +0.5%
Arbitrum $0.8761 $0.9941 -12%
Celestia $7.42 $2.2043 +253%

Polygon Ecosystem Token Price History

Polygon Ecosystem Token price history
Polygon Ecosystem Token price in 2023 and 2024. | Credit: CoinMarketCap

 

Time period Polygon Ecosystem Token price
Last week (June 10, 2024) $0.6474
Last month (May 17, 2024) $0.7152
Three months ago (March 17, 2024) $1.0922
Launch price (October 30, 2023) $0.6451
All-time high (March 13, 2024) $1.2776
All-time low (June 14, 2024) $0.5772

Who Owns the Most Polygon Ecosystem Tokens?

On June 17, 2024, one wallet held nearly 98.10% of the supply of POL.

Richest POL Wallet Addresses

As of June 17, 2024, the five wallets with the most POL were:

  • 0x29e7df7b6a1b2b07b731457f499e1696c60e2c4e. This wallet held 9,989,485,765 POL, or 98.10% of the supply.
  • 0x2ff25495d77f380d5f65b95f103181ae8b1cf898. This wallet held 61,059,147 POL, or 0.60% of the supply.
  • 0xc984295ad7a950fb5031154bcfc0b6267b948706. This wallet held 55,097,501 POL, or 0.54% of the supply.
  • 0x2a3dd3eb832af982ec71669e178424b10dca2ede. This wallet held 30,000,099 POL, or 0.29% of the supply.
  • 0xc04e338a44c1f8b085161123151554d9a7eaadad. This wallet held 14,653,746 POL, or 0.14% of the supply.

Fact Box

Supply and Distribution Figures
Total supply
10,183,177,441
Circulating Supply as of June 17, 2024 193,691,676 (1.10% of total supply)
Holder distribution Top 10 Holders own 99% of total supply (as of June 17, 2024)

From the Whitepaper

Although POL does not have its own technical documentation, or whitepaper , Polygon, which was then known as the Matic Network, does. It says that, while people are interested in blockchain technology, many platforms slow down when they get busy, thus costing people time and money.

Although some blockchains offer solutions, they do so without supporting decentralized applications (dApps), according to the documentation.

The whitepaper says: “Matic Network strives to solve the scalability and usability issues, while not compromising on decentralization and leveraging the existing developer community and ecosystem.”

What Is Polygon Ecosystem Token?

The Polygon platform, originally called Matic, allows different blockchains to link up with each other. Polygon can be seen as a kind of enhanced layer 2 scaling solution with a cross-chain facility. 

Sidechains linked to the main Polygon blockchain are powered by the POL token.

How Polygon Ecosystem Token Works

Polygon is a main blockchain with side chains running off it. It can also link to other blockchains. 

POL is used to reward people who validate transactions throughout the Polygon ecosystem. People can also buy, sell, and trade it on exchanges. 

Is Polygon Ecosystem Token a Good Investment?

It is perhaps a little too early to tell right now. Although crypto investors can, sometimes, be thrilled by a new product, they can also be creatures of habit. Therefore, it is not that much of a surprise that MATIC is still in the top 20 cryptocurrencies by market cap and POL is barely in the top 500.

A lot will depend on both whether Polygon can persuade investors to take an interest in their new token and how the market behaves as a whole. 

Furthermore, investors may be a bit put out by the lack of official technical documentation, or whitepaper, explaining what POL is and what it does. MATIC does, however, have a whitepaper.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in POL.

Will Polygon Ecosystem Token go up or down?

No one can really tell right now. While the Polygon Ecosystem Token crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Polygon Ecosystem Token?

Before you decide whether or not to invest in Polygon Ecosystem Token, you will have to do your own research, not only on POL, but on other coins and tokens such as Optimism (OP). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Polygon Ecosystem Token Attention Tracker

A chart for the Polygon Ecosystem Token Google search volume for the past 90 days cannot be shown as Google says there isn’t enough data to provide one.

FAQs 

How many Polygon Ecosystem Tokens are there?

On June 17, 2024, there were 196.7 million POL in circulation out of a total supply of 10.2 billion.

Will the Polygon Ecosystem Token reach $10?

If it does, it won’t be for quite some time. Price predictions based on technical analysis expect it to reach a double-figure level in 2030.

What is the Polygon Ecosystem Token used for?

POL pays for transactions in the Polygon blockchain ecosystem. People can also buy, sell, and trade it on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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