Before you invest, here’s everything you need to know about MATIC

• MATIC, like its blockchain Polygon, has been rapidly expanding. The altcoin has increased by 376.61 percent since the beginning of the year and continues to do so
• The investor avoids hefty minting expenses as a result of this. An approach like this will undoubtedly draw more people to the network
• They appear to be anticipating further action from MATIC. The news about network development, on the other hand, made some investors optimistic

MATIC, like its blockchain Polygon, has been rapidly expanding. The altcoin has increased by 376.61 percent since the beginning of the year and continues to do so. However, the question of whether or not to invest will always be present. While the proposal appears to be attractive on the surface, there are several aspects that an investor should examine before making a decision. The imminent listing of MATIC on Bitfinex was revealed by Polygon. 

It will be a fantastic chance for MATIC to expand its user base as the 10th largest Centralized Exchange (CEX) in the world, with daily transactions of almost $600 million. Polygon is also cashing in on the NFT craze by offering gas-free NFT minting. Furthermore, because of its EVM compatibility, those NFTs may be simply moved to Ethereum. 

The investor avoids hefty minting expenses as a result of this. An approach like this will undoubtedly draw more people to the network. Furthermore, the news of the listing occurred at an ideal time, since Polygon’s involvement has been progressing at a rapid pace. With over 176k daily active members joining the network in only one week, it’s already at an all-time high. Furthermore, the chain has been averaging 6.08 million transactions per day. 

And the greatest thing is that each transaction only costs $0.0045. The growth in Polygon’s NFT performance, which has improved by 8.45x in one month, is the greatest contribution to these numbers. As a result, at the time of this report, the network value had reached a 20-day high. Whales have stayed inactive despite a 28 percent price drop and a 14 percent price hike that followed. 

They appear to be anticipating further action from MATIC. The news about network development, on the other hand, made some investors optimistic. By a factor of four million MATIC, buy orders have been outnumbering sell orders. However, many other investors continued to sell, with liquidations reaching $2.5 million just a day ago. 

In addition, if the network is to become more powerful, it must expand its user base. Only 30% of all addresses on the network have any balance on them at the present. Also, due to the tiny user population, MATIC isn’t exchanged as frequently as it should be, resulting in a two-month low in velocity. As a result, bullish investors must exercise caution, as market action is now inactive, and there is an equal possibility of a price decline as there is a price gain.