Polygon (MATIC) saw huge fluctuations in 2022. At the beginning of the year, the stock started a gigantic bull market that pushed it to $ 2.4544 in March. The price fell to $ 0.6901 in July and then began another upward move that it has maintained to this day amid several small setbacks.
During the same period, Polygon also achieved several milestones, including the recent acquisition of the developer of the zero-knowledge (ZK) protocol, Mir, for $ 400 million. The acquisition is expected to build on Polygon's strengths as the company seeks to aggregate various Ethereum-based blockchains and allow them to communicate with one another.
To that end, Guy, the host of the hugely popular cryptocurrency trading YouTube series, Coin Bureau, said the price of Polygon (MATIC) could double or triple over the current cycle, depending on how well Polygon implements its scaling solutions.
In a video posting on the Coin Bureau channel about five days ago, Guy stated that MATIC's price could go up two or three times before the current bull market ends. He noted that the key to the coin’s expansion lies in Polygon's strong roadmap and emphasis on increasing scalability.
Guy said:
“If you're wondering how far MATIC could go before this bull market ends, a conservative estimate is another 2-3 times … MATIC's massive market cap means it's unlikely to get much bigger. It is possible, however, for MATIC to take an even bigger step, but that ultimately depends on Polygon's roadmap. "
Polygon roadmap
Polygon co-founder Sandeep Nailwal recently outlined the project's roadmap, which focuses on five key areas.
The co-founder also highlighted the importance of introducing the Avail Side Chain, a scalable all-purpose blockchain for independent chain, off-chain and side-chain solutions.
Another focus of the roadmap is the NightFall ZK Rollup, a scaling solution that is intended to help execute transactions outside of the polygon blockchain.
Guys Notes on Polygon (MATIC)
While realizing that the Polygon team intends to have most of the scaling solution implemented by early next year, Guy explained why he was so optimistic about MATIC. He also announced his year-end price target in a video titled " Top Altcoin Picks 2022 Q3 ".
In the video, Guy explained that Polygon was the most preferred Layer 2 scaling solution for Ethereum and that some of the most popular Decentralized Applications (DApps) were built on top of Polygon. Some of the DApps he cited are Aave, Dcentraland, and SushiSwap.
Guy also noted that Polygon is home to over 300 DApps with a Total Value Locked (TVL) of over $ 9 billion.
Another thing Guy highlighted was the recent integration of the Polygon wallet through the Binance and Coinbase exchanges.
The post The host of the popular YouTube series “Coin Bureau” on trading in cryptocurrencies says that Polygon (MATIC) could even triple in this cycle appeared first on BitcoinMag.de .