The prospect of the EIP-1559 proposal transforming $MATIC into a deflationary asset and a bullish trading pattern on its technical chart has traders feeling relatively bullish about Polygon.
MATIC/USD daily price chart. Source: TradingView
This classic economic reference has assisted in boosting demand for cryptocurrencies like Bitcoin before. Issuance would be halved every four years against a limited supply cap of 21 million units. This begs the question, could the MATIC price rally in the same way? Mineplex co-founder Alexander Mamasidikov thinks yes.would impact MATIC price positively, adding that it could easily rally toward its current record high following the technical upgrade.
"While Polygon remains a better version of Ethereum in terms of lower transaction costs, it is also the delight of retail investors with respect to its low price at this time when compared with Ethereum or other smart contract networks."MATIC has been trending higher inside an ascending channel pattern since July 2021, confirmed by at least two reactive highs and two reactive lows.
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