Binance on 1st April announced that it would offer Matic Network token “MATIC” via Binance Launchpad. MATIC is the fourth IEO offering of this year from Binance. The token sale will be conducted on 24th April with a new process.
During the last token sale, a lot of user faced session log out and other issues. To avoid such issues exchange has introduced a token holding and lottery model to conducting the token sale on Binance. New token sale procedure can be found here.
What is Matic Network?
Matic Network is off chain scalable solution on Ethereum blockchain with an adapted version of Plasma Framework. Not only Ethereum, but Matic network also aims to build a scalable solution for all the PoS based blockchain in future with superior user experience in DApps.
What is scalabilities issues?
One of the significant issues of the current blockchains are scalabilities and higher transaction fees. Popular Blockchain like Bitcoin and Ethereum are very slow in terms of transaction per second. Off-chain scaling is one of the methods to solve such issues on the blockchain. Matic Network aims to solve the scalabilities and higher fee issue.
Matic Network Price Prediction – Competitor Market Model
Matic Network is entering into the most competitive space of blockchain, Off Chain Scaling. Many players in the blockchain industry are trying to build a blockchain with high throughput via Off-chain mechanism. The primary competitor for Matic Network is Celer and Raiden Network.
Raiden network is already available off chain scaling solution on Ethereum blockchain. Celer is bringing scalability with low transaction fee to all blockchain. Celer Network is one step ahead as it is also scaling smart contract over off chain.
- Matic Network Price Prediction using Celer: Celer sold 33% of the token via seed, private and public rounds and raised $34,000,000. Out of which $4,000,000 was raised for 6% of the token in launchpad.
Matic Network will raise $5,000,000 from Binance Launchpad by giving 19% of the token supply. Based on the Celer performance, Matic has a very high chance to reach nearby march of Celer. Matic Price can reach 4X-5X on listing.
Matic Network Price Prediction – Binance Launchpad
Celer was listed on Binance after launchpad. Current Market Cap of Celer is $38,029,310 ( 6th April)
- Celer price was 6X on listing from the public token sale price. i.e 0.000434 BNB to 0.0024 BNB
- Currently trading at 2.2X at 0.000982
BitTorrent was listed on Binance after launchpad.
- BTT price was 5X on listing from the public token sale and reach till 12X, i.e 0.00012 USD to 0.0012 USD
- Currently trading at 6.5 at 0.00078
Matic is more comparable with Celer and seeing the recent performance of token listing on Binance after launchpad. 5X has been very easy. Matic can easily achieve 5X on listing price.
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P.S: Note that these price predictions are based on some data, which we collect from various sources and internal research. Price prediction may differ, and we request our reader that not to be dependent on this solely.