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Analyst Guy Says Polygon’s (MATIC) Scaling Solution Will Rally Ahead Of Next Month’s Ethereum (ETH) Merger
According to him, despite the progress in terms of development of the project, the results of MATIC were not very impressive:
“MATIC has been hit hard by the crypto bear market and has fallen by about 50% since March, although it is now starting to show some signs of recovery. In addition, the asset was under pressure from sellers, as evidenced by a significant increase in supply in circulation over the past few months. Since March, the supply of the asset has increased by about 340 million MATIC.
Guy suggests that Polygon will benefit from Ethereum’s switch to a PoS algorithm as its scaling solutions become greener:
“MATIC is likely to continue its short-term rally regardless of fundamentals, thanks to the transition of Ethereum to a PoS algorithm. On the eve of the Ethereum merger, the MATIC price may rise to $1.5, which is consistent with ETH’s own exchange rate behavior, which is also predicted to double over this period.
MATIC will benefit from the merger as its solutions become more environmentally friendly, making Polygon even more attractive to institutional investors. In addition, Polygon solutions will still be needed after the merger, as it will not greatly affect transaction speeds or fees on the Ethereum network.”
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