The crypto market is looking great ahead of the beginning of next week. Check out the price predictions about Polygon (MATIC).
MATIC price predictions are out
It’s been revealed that there is a popular crypto analyst who says that blockchain scaling solution Polygon (MATIC) is primed.
In a new video update, the pseudonymous to rally ahead of Ethereum’s (ETH) much-anticipated Merge next month.
It’s been revealed that a host of Coin Bureau known as Guy says that MATIC is struggling despite seeing many bullish developments over the course of the past few months.
“The MATIC token has been hit hard by the crypto bear market and is down about 50% since I last covered the project in March, though it is starting to show some signs of recovery.”
He continued and said:
“Besides the crypto bear market, the MATIC token has been suppressed by sell pressure as indicated by the sizable increase in its circulating supply over the last few months. Since March, MATIC’s supply has increased by about 340 million.”
The analyst also said that MATIC looks poised to surge despite its struggles as Ethereum updates from a proof-of-work mechanism to a proof-of-stake one.
He made sure to explain the fact that Polygon will benefit from the switch as its scaling solutions will become more eco-friendly.
“MATIC is likely to continue its short-term rally regardless of these fundamentals and that’s because of Ethereum’s upcoming transition to a proof of stake, which is taking tokens like MATIC on a mission to the moon.”
In order to learn what more he had to say, check out the latest reports presented by the online publication the Daily Hodl.
Other than this, the crypto market is doing its best to recover following recent price losses. Stay tuned for more news, and make sure to check out the prices in the crypto market as well.