Can Polygon Reach $1?
While Polygon (CRYPTO: MATIC) is still down more than 25% for the year, there have been some signs recently that the crypto token is finally turning things around. For example, Polygon is now up 12% since Sept. 28 after plunging by nearly 67% from February to September.
However, Polygon still has a long way to go before regaining the $1 mark. At its current price of about $0.56, Polygon would need to nearly double in value. The good news is that there are two catalysts that could push Polygon higher.
Most notably, Polygon continues to build out its ecosystem, as measured in the number of users, developers, and partners. For example, in September, Google Cloud (the cloud computing unit of ) became a validator on the Polygon proof-of–stake network. In layperson's terms, this means that Google Cloud will help to secure the blockchain network and improve overall blockchain governance. The fact that Google Cloud has chosen to become an official validator on the network can be seen as a stamp of approval for Polygon.
Source Fool.com
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