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According to Lark Davis, the price of the altcoin is capable of exceeding $ 10, since it has the potential for an “explosive” rise in price.
The opinions of experts may not coincide with the position of the editorial board. RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
Crypto analyst Lark Davis argues that the Polygon token (MATIC) has the potential for explosive growth. According to Davis’ forecast, in the short term, the altcoin price is capable of exceeding $ 10 (an increase of 354% from current levels).
Davis claims that the Polygon network attracted a large number of users in the past year due to lower fees and higher network bandwidth than Ethereum. According to the analyst, this year users will continue to switch to Polygon.
“If you’ve ever tried to buy NFT on Ethereum, you know it’s a painful process. If you have ever tried to get an NFT drop on Ethereum, you know that it is very expensive, ”explained Davis.
On January 11, the Polygon token is trading at $ 2.2. Since the beginning of the year, altcoin has fallen in price by 13%, and its capitalization has dropped to $ 15.2 billion, according to CoinGecko. At the end of December last year, the cryptocurrency updated its all-time high above $ 2.9, having risen in price by more than 60% in two weeks.
Polygon is an Ethereum-compatible second level sidechain powered by PoS (Proof-of-Stake) algorithm. The network is faster and with lower fees than the main Ethereum network.
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