With the rate at which it has retreated, the market is moving forward. The worldwide market capitalization increased by 4.51 percent in the last 24 hours, bringing its value to $2.05 trillion. If the current bullishness persists, the rate of increase in its value will accelerate.
When compared to other currencies, Polygon performed better during the previous recession and gained. This coin has gained 0.16 percent in the previous seven days, according to statistics. When looking at the data for the last 24 hours, it reveals a 7.88 percent increase. Polygon is now priced between $2.39 and $2.49.
The Polygon price held steady on Thursday morning as demand for the layer-2 network rose steadily. MATIC, the network’s native token, is trading at $2.36, which is about 2.30% about 25% above the lowest level this month.
Bullish predictions for MATIC
Lark Davis, a cryptocurrency trader, believes a layer-2 Ethereum (ETH) solution, which is coming off a breakthrough year, would deliver even more huge gains.
Davis tells his 479,000 YouTube subscribers that Polygon (MATIC), a multi-chain scaling solution, has a lot going for it as “the best Ethereum side-chain.”
Polygon’s recent expansion has particularly impressed the trader. He mentions that only 15% of the 129 million accounts that have utilized Polygon in the last eight months have Ethereum addresses. That suggests that 85 percent of new Polygon users are already familiar with the platform, he added.
Polygon’s cheap fee structure, according to Davis, is stealing market share from Ethereum in the non-fungible token (NFT) space.
Polygon has witnessed a significant increase in the amount of NFTs sold. We can see how things have changed since July, when we sold 50,000 Polygon-based NFTs, to now, when we have.In the month of December, Polygon on OpenSea sold 1.99 million NFTs, he said.
He wraps up his MATIC analysis with a bold price prediction,
“I believe that a $10 MATIC is inevitable. It’s going to come. I think it’s going to happen. It’ll be glorious…”