Crypto may be on the decline, but now it could be a smart buying opportunity. According to crypto expert Katie Brockman, Polygon’s (MATIC) relationship with the leading altcoin Ethereum could take it to new heights. But there are many other reasons to consider this crypto.
This altcoin has long-term potential
With investors struggling to make their way through this crypto winter, it’s easy to get caught up in bad news. cryptocoin.comAs you follow, the vast majority of cryptocurrencies have bottomed out over the past year. Also, no one knows when we will see the light at the end of the tunnel.
However, many cryptocurrencies are still full of potential. What’s more, it may be a smart financial move to invest now when prices are lower. While it’s unclear which investments will be the most successful, there is one crypto that could become the Ethereum (ETH) of 2023: Polygon (MATIC).
Why is Polygon positioned for serious growth?
Polygon is a Layer-2 solution or side-chain built on Ethereum. In other words, it processes multiple transactions for Ethereum and then packages them and transfers them to Ethereum’s Blockchain. This helps speed up processing times and lower fees. This alone provides a very large position for Polygon. Ethereum is one of the largest, most popular blockchains in the world. But all that congestion has led to slow transaction times and high fees. This caused frustration among users and developers.
The relationship between Polygon and Ethereum is symbiotic. Many developers and users want to use Ethereum’s Blockchain, but are hesitant due to fees and transaction times. By going through Polygon instead, they can take advantage of Ethereum’s wide range of uses in a more time- and cost-effective manner. And the more people and businesses use Ethereum, the more Polygon benefits from it.
Polygon attracts big names
Another big advantage of Polygon is corporate partnerships. Many companies are starting to dip their toes into the Web3 world. So they often need an external partner to help integrate these processes. Last year, Meta Platforms announced that it would switch to Non Fungible Tokens (NFTs), allowing Facebook and Instagram users to link their digital wallets to their accounts. Polygon was one of a handful of Blockchains selected to work on the project.
Polygon also made headlines after Walt Disney was selected for the Accelerator Program, which aims to find and fund promising innovative technologies. Ultimately, Polygon aims to form a partnership with Disney to integrate Blockchain into its existing technological ecosystem. Alongside Disney and Meta, Polygon has also worked with other household names such as Nike, Starbucks, Mastercard, and Coca-Cola to aid their blockchain efforts. With all these big brands behind it, Polygon could head towards serious growth in 2023 and beyond.
Will Polygon replace leading altcoin Ethereum?
Polygon’s close relationship with Ethereum puts it in a unique position. If Ethereum develops in the coming years, Polygon will likely benefit from it. And because Polygon helps make Ethereum more efficient, it could attract more users and developers to the Blockchain. But Polygon is not a one-shot pony. Also, brand partnerships can set it up for significant growth.
Of course, no one can say for sure where the crypto market is headed. Therefore, there is no guarantee that Polygon will improve. But since prices are significantly lower, it may be one of your best chances to buy at the bottom now. If Polygon is poised for tremendous growth, investing now can be lucrative.
The opinions and estimates in the article are those of the experts and are not investment advice. We recommend that you do your own research before investing.
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