Your industry analysis led you to consider the MATIC to BNB conversion. Don’t rush the decision but read our guide and get the latest info on both tokens. You’ll discover the benefits and drawbacks of making this trade, empowering you to make an informed decision. Here’s what to know about MATIC and BNB in 2022!
MATIC and BNB: Reviewing Coins Performance
Instead of simply comparing the values, we analyzed the coin’s past and future performance. Let’s see what we discovered!
MATIC in 2022
Polygon offers an Ethereum scaling solution, allowing developers to build dApps while delivering better transaction speed and low fees. MATIC is valued at $0.72. Its market cap is $6.3 billion, and it takes 13th place in the overall crypto ranking. As for the future, the forecast is encouraging. While 2022 would be the year of stabilization, and the value probably won’t go over $1, MATIC might reach $1.61 in 2023. According to Changelly, the token might be worth approximately $8 in 2027. DigitalCoinprice is more cautious but still predicts MATIC could rise above its current ATH by 2025.
BNB in 2022
Binance Coin (BNB) is the native token launched by the Binance currency exchange. Today, BNB is worth around $265, with the market cap set at $43 billion. It’s nowhere close to the ATH it reached in May 2021 ($690), but that’s still a decent value. And the predictions are encouraging since there’s no doubt BNB would stay among the top ten coins in the market.
Cryptopolitan states BNB might reach $374 during 2022 and jump to $403 the following year. It probably won’t go beyond its all-time high before 2028, unless the crypto market has a major expansion. However, experts agree that BNB’s price will rise continuously in the years to come.
MATIC to BNB: Pros and Cons of the Transaction
We determined the transaction pros and cons based on the projects’ potential, coins’ performance, etc.
Pros
- BNB is a reputable utility token. The fact that Binance is behind the coin only increases its reputation.
- Binance Coin has a unique burning policy. There have been 20 burndowns until September 2022, and this action helps maintain a high demand for the token.
- You can benefit from various discounts on the platform. Binance motivates you to hold BNB, as well as use and earn it on the platform.
- Binance Smart Chain might outplay Ethereum. While waiting for a major Ethereum update, this smart chain proves to be a viable alternative.
- You don’t know how the Ethereum update would affect MATIC. If the update turns out to be a great hit, Polygon might not be seen as that necessary for the industry.
Cons
- Binance is a centralized company. Some information shows that only several wallets have ownership over the majority of BNB in the market. That gives them more control over the coin than anyone would like.
- Some legal issues for Binance could spell problems for BNB. Many regulators worldwide file complaints and lawsuits against Binance. The company even withdrew from some markets as a result.
- Binance was under cyberattacks. In 2019, about $40 million were stolen from Binance’s system. The platform reimbursed the users, but it still affected its reputation.
Final Note
It’s all about finding the ideal trading pair. If you have Ethereum, you might want to convert ETH to USDT until you are sure the turbulent times for the crypto market are over.
But what if you can use the current situation to earn? That’s how the investors considering a MATIC to BNB trade think, and the decision is up to you. You are now familiar with the deal’s advantages and downsides. If you pick to go ahead with the trade, don’t forget to choose a reliable exchange. It will ensure the process goes smoothly while getting the best rates possible!
This post may contain affiliate links, which means that I may receive a commission if you make a purchase using these links. As an Amazon Associate, I earn from qualifying purchases.