Several analysts argue that the leading altcoins could plunge 75-90% in 2022. However, there are coins on the market with huge upside potential. Cryptocurrency trader Lark Davis states that, for example, Polygon’s (MATIC) skyrocket of 370% is almost inevitable.
Polygon offers a Layer-2 solution to increase Ethereum scalability. The largest smart contract platform from time to time faces low performance. A Layer-2 multi-chain solution can solve this problem and reduce fees on the Ethereum network. According to Lark Davis, Polygon is the “premier side-chain for Ethereum.”
The expert notes that 129 million users have used Polygon over the past 8 months. And only 15% of them have addresses in Ethereum, the rest are “aborigines” of Polygon. Davis also notes that in the face of the NFT’s hype, Polygon has big advantages over Ethereum. The expert notes:
– If you’ve ever tried to buy an NFT on Ethereum you know it can be a painful process. If you’ve ever tried to claim an NFT drop on Ethereum you know it’s a very expensive process.
Low commissions of Polygon will attract Ethereum users for a long perspective. Ethereum’s founder recently announced that a full transition to ETH 2.0, which solves the problem of scalability, will happen within six years. Therefore, the number of Polygon-based NFTs is growing so rapidly. In six months, the number of NFTs sold has grown 40 times, from 50K in July to almost 2 million in December.
Many popular blockchain projects are also moving to the Polygon network, including OpenSea – the best marketplace for NFTs, Aave (AAVE) – one of the best decentralized finance (DeFi) protocols, Sandbox (SAND) – one of the largest metauniverses. All this makes Polygon (MATIC) an attractive asset.
Last year, MATIC made an epic run. Its price rose from $0.03 to an all-time high of $2.92. But the growth potential is far from being over. Lark Davis is confident that the coin will rise up to $10 by the end of the year. The network is developing well, attracting users and resources, strong developers come to Polygon. The expert points out:
– Users are piling in. Money’s piling in. Developers are piling in. Tokens are going to be burned. I believe that a $10 MATIC is inevitable.