Recently, crypto influencer “Coin Bureau” (“@coinbureau” on Twitter) talked about Polygon ($MATIC), which is one of the few cryptoassets that he regrets “not buying sooner.”
Polygon is “a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.”
In a video (titled “TOP Altcoin Picks 2021 Q3”) released on YouTube channel “Coin Bureau“, the show’s pseudonymous host told the channel’s over 1.2 million subscribers why he is so bullish on $MATIC and gave his year end price target.
He had this to say about $MATIC:
- Polygon is “the preferred layer 2 scaling solution” for Ethereum.
- Some of the very popular decentralized applications (Apps) that have built on Polygon include Ave ($AAVE), Decentraland ($LAND), and SushiSwap ($SUSHI).
- Its 300+ DApps hold over $9 billion in total value locked (TVL).
- Both Coinbase and Binance have recently completed Polygon wallet integration.
- Number of active users (which is growing very rapidly) is more than that for some layer one (L1) blockchains.
- $MATIC not only powers the Polygon blockchain but it is important for Polygon’s expanding set of layer two (L2) blockchains for Ethereum.
- Since the start of 2021, $MATIC has had “a magnificent run.” Although the crypto market crash in the second half of Q2 2021 brought the $MATIC price down from its all-time high (ATH) of $2.44 (reached on May 18), with “mass adoption”, the price of this cryptoasset has a “realistic” chance of hitting $5 by the end of this year.
Yesterday (August 12), next-gen banking platform Cash announced that it is planning to come to Polygon.
According to data by Trading View, on crypto exchange Coinbase, currently (as of 12:10 UTC on August 13), MATIC-USD is trading at $1.4123.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.