More and more rising stars of the crypto world Polygon (MATIC) Talking about it, an analyst announced the price targets for the Tier-2 scaling protocol for 2022 and beyond.
Speaking at a new strategy session, James Mullarney of financial education YouTube channel InvestAnswers explained which path Polygon (MATIC) could follow after the project made several major acquisitions.
“I have taken into account some of my new Ethereum (ETH) price prediction models. I also factored in the new EIP-1559 combustion system (during ETH’s London upgrade in August).
New ZK that can help [sıfır bilgi çerçevesi] I took into account its features and achievements.
The new price predictions for 2022, on the other hand, will be $3.90 in the case of the low bear, while my expectation for next year is currently around $4.61 and $6.31 is my high expectation. These will be critical to determining our exit plan.”
In zero-knowledge proof (ZK), one party can attest to a second party the accuracy of a piece of information without disclosing the information itself. Cryptographers use the ZK method for increased levels of security and data privacy.
Mullarney also MATIC He also talked about the notable fundamental developments that explain why he is in a long-term bullish trend.
“MATIC is becoming multi-chain. Uniswap is another one to move to Polygon because Uniswap is suffering from gas charges and they voted overwhelmingly to move to Polygon.”
The Uniswap (UNI) community recently voted 98.87% to distribute Uniswap v3 over Polygon’s network.
Mullarney said Polygon has also made great strides in developing its repertoire of scaling technologies in the form of ZK summaries. According to the analyst, ZK hashes are crucial because they aggregate hundreds of off-chain transactions that are instantly verified on the main chain, resulting in a faster turnaround time.
Mullarney has this to say about Polygon’s recent acquisitions:
“Two of the acquisitions they have made: the first is Hermez. [250 milyon dolara açık kaynaklı ZK toplaması] and then recently for $400 million to expand Ethereum capacities [ZK korumalı başlangıç] They bought the Mir Protocol.
To step away for a moment, ZK summaries are clearly a thing… 2022 will be all about ZK summaries.”
At the time of writing, the MATIC is trading at $2.22. The altcoin surged from $0.02 a year ago to an all-time high of $2.70 in May.
InvestAnswers predicts that Polygon could see it outpace other Ethereum competitors in terms of market cap.
“MATIC is like a monster. Currently ranked 14th. Bigger than Algorand and Chainlink… And it could very easily be one of the top 10 cryptos.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.