Polygon ($MATIC) Could Conservatively Grow Another 3X in This Cycle, Says Coin Bureau
The host of the highly popular cryptocurrency trading YouTube series “Coin Bureau” says that Polygon ($MATIC) could grow “another 2-3x” in this cycle if it is able to properly implement its scaling solutions.
In a video released four days ago, Guy, who hosts the popular crypto show Coin Bureau, told the channel’s 1.75 million susbscribers that the price of $MATIC was on pace to increase by 2-3x before the end of the current bull market. Guy noted the project’s strong road map and emphasis on increasing scalability, which he said would be key for the coin expanding.
As reported by The Daily Hodl, Guy said:
“If you’re wondering how far MATIC could go before this bull market ends, a conservative estimate is another 2-3x.
“MATIC’s massive market cap means that it’s unlikely to grow much larger than that. That said, it is possible that MATIC could make an even bigger move, but that ultimately depends on Polygon’s roadmap.“
Polygon’s co-founder Sandeep Nailwal recently outlined the project’s roadmap, focusing on five milestones for the layer-2 scaling solution to achieve. Nailwal highlighted the importance of launching the Avail Side Chain, a general purpose scalable blockchain for standalone chains, sidechains and off-chain solutions.
The roadmap also focused on the NightFall ZK Rollup, another scaling solution that could help execute transactions outside of the blockchain. Nailwal rounded out the milestones with an unnamed optimistic scaling solution, application-specific side chains and the introduction of “enterprise” side chains.
According to Guy, the Polygon team intends to have these scaling solutions implemented early next year.
In a video (titled “TOP Altcoin Picks 2021 Q3”) reelased back in September, Guy explained 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.
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.
Photo by user geralt via Pixabay.com
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