The world of blockchain was literally paralyzed in November 2022 as the second largest crypto exchange announced that they can’t withdraw clients’ money.
And while the platform is still functioning we can’t recommend purchasing MATIC via its website.
Still wondering why? Read on to see more details!
Polygon price prediction
First, let’s figure out what Polygon is and how our portfolio can benefit from having this asset.
Polygon (formerly Matic Network) is an infrastructure solution designed to scale Ethereum.
Its technology moves Ethereum DApps to a system of connected blockchains (like Polkadot) that preserve the security of the Ethereum network and the benefits of the ecosystem.
Its native token (MATIC) success is based on network partnerships, growing adoption of high-end projects, and high availability on traditional crypto exchanges and DEXs.
Today the Polygon live price chart shows the following:
- price – $0.882 per token;
- turnover of $35,710,124;
- total market capitalization of $8 billion.
Yet this is far from Polygon’s plans. So our portfolio is about to double in the near future as the market cap of this token will significantly grow.
For example, Wallet Investor (a popular Polygon price prediction platform) claims that MATIC will peak at $10 in 2025, and can even reach $100 by 2030.
So it’s crucial that you buy this coin in the right place.
FTX to USD: a drop of 93%
The conflict between the head of Binance and the owner of FTX and Alameda affected the entire cryptocurrency market.
The other day, on November 6, 2022, the head of the Binance crypto exchange, Changpeng Zhao, announced that his organization plans to get rid of all FTT tokens, the proprietary asset of the FTX crypto exchange owned by billionaire Sam Bankman-Fried.
The reason for this decision was the information that surfaced in early November 2022 that FTT tokens make up a significant part of the assets on the balance sheet of the Alameda trading company, which is also owned by Bankman-Fried.
All this resulted in the FTX/USD price decrease. According to letizo.com, their native token FTT is now trading at $1.55. Recall – in 2022 the average rate for FTT was $40-20, so it is a drop of 93
Conclusion
And while you can still buy any token on FTX with further moving it to a cold wallet or another exchange, everything is not that simple. Sam Bankman-Fried owes billions to customers and stakeholders, so there is a very high chance that your money would be simply frozen.