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Intuition can only get you so far in crypto trading. You can get lucky once or twice, but extensive analysis is necessary when exchanging coins. So, before you go ahead and swap BNB to MATIC, read our guide on the importance of historical analysis and how these tokens compare.
MATIC Review
Initially known as the Matic network, this blockchain is now named Polygon. It’s famous as a plasma chain that aims to improve on Ethereum’s drawbacks, primarily scalability. The network uses a consensus mechanism based on the PolyBFT concept. Together with its unique structure, it increases transactions per second from about 20 on Ethereum to over 50,000.
MATIC has the basic use case of paying for transaction fees, considering it’s the Polygon’s native token. Owning MATIC also gives you voting rights to express your opinion on proposals to improve the network.
BNB Review
BNB is the native token of the Build N Build (BNB) Chain launched by the famous crypto exchange Binance. The coin’s history goes back to 2017 when it was released along with the swapping platform. Today, Binance is the largest exchange, and BNB is among the best-positioned coins in the crypto rankings.
You can use BNB to pay for transaction fees, and Binance will secure discounts if you use this currency. Thanks to the support of such a major company, BNB is widely adopted and used for different use cases. That includes staking, using it for payment purposes on various websites, and using it for other DeFi services offered by Binance.
Comparing Historical Performance
MATIC currently has 9.31 billion tokens in circulation, which is close to the maximum of ten billion. The token was worth only $0.003 in May 2019, so you could say it took some time to kick off. It had the best days in 2021 when it reached an all-time high of $2.92. Unfortunately, the crypto crash also knocked down MATIC’s value, and it is now worth $0.548. During the last 12 months, the coin’s value went down from the local high of $1.48, so there’s a noticeable negative trend.
As for BNB, it doesn’t have a maximum supply, and the auto-burning process contributes to scarcity. You can currently find around 153 million BNB coins in circulation, with the current price set at $214.13.
Binance Coin entered the market in 2017, and that’s when it also had the all-time low — $0.09611. The token had a positive trend and increased to a whopping $690.93 in May 2021. After the crypto crash, BNB recovered a significant portion of its value to reach today’s worth. In the last 12 months, it lost about 22% of its value, but predictions for the future are promising.
Apart from tracking the coins that exist on your watchlist, identifying exciting new tokens before others can be imperative. That’s why we advise monitoring the XxXCoin price and other coin fluctuations to determine new trading options.
Significant Historical Events
The launch of the Binance exchange in July 2017 revamped the crypto industry since it only took six months for the platform to become the biggest exchange in terms of trading volume. Creators offered BNB tokens via the initial coin offering, which lasted from June 26th to July 3rd.
The platform sold 100 million tokens via the ICO and raised $15 million. Ethereum platform was the place where the offering occurred, and you could purchase 2,700 BNB tokens for a single ETH. In 2019, the BNB coin also became available on the BNB Chain as a BEP2 token, and all users could acquire those coins at a 1:1 exchange rate.
As for Polygon, its critical historical event was the mainnet launch that occurred In 2017. The coin was almost immediately listed on Binance, and the following years only brought improvements to this plasma chain. In 2021, the blockchain merged with Hermez, the zk-roll-up platform. zkEVM Mainnet Beta went live in March 2023, and this EVM equivalent seems to secure a promising future for the Polygon project.
BNB vs MATIC: Considering for Future Investments
The crypto market has recovered from a huge crash, and investors agree better times lie ahead. Experts are excited regarding both BNB and Matic. Binance supports the BNB Coin, so it’s likely it will maintain a high position in the rankings. The new zkEVM Mainnet Beta makes MATIC particularly attractive, indicating it could be the right moment to invest in this coin.