Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

The crypto-winter saw MATIC tank all the way down to $0.324 on 19 June 2022, its lowest in over a year. However, the price has since recovered and gained by more than 190% on the charts. So does this reversal signal a bull run or is it a dead-cat bounce waiting to fleece unknowing investors? In this article we will take a look at events that have influenced MATIC’s price and the ones that will affect its future so that investors can make an informed decision.

Source: PolygonScan

At the time of writing, MATIC was trading at $0.945. The market capitalization stood at $7.58 billion with $520.6 million traded over the last 24 hours. With over 142 million unique user addresses and $5 billion in assets secured, Polygon PoS has processed more than 1.6 billion transactions till date.

In 2017, Sandeep Nailwal and his team set out to build a platform on Ethereum’s blockchain, one that would solve problems like network congestion, high fees and low transaction throughput. All this, without compromising on features like security and the dynamic ecosystem that Ethereum offers. This led to the launch of the Matic Network.

In February 2021, Matic rebranded to Polygon in a bid to provide a scalable version of Ethereum’s infrastructure and introduce overlay-rollups to combine other layer 2 platforms for instant transactions, among other things. Polygon retained the name of its native token MATIC. The token proceeded to gain by over 200% over the next 30 days. Polygon runs on the proof-of-stake consensus protocol and can be described as an Ethereum layer 2 scaling solution with