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Polygon (MATIC) Likely to Ahead of Ethereum Merger Next Month, Coin Bureau Host Says

A popular crypto analyst says that the Blockchain-Scaling solution Polygon (MATIC) is ready to face the Ethereum(ETH), which will take place next month.
In a new video update, Coin Bureau’s pseudonymous host, known as Guy, says the MATIC has struggled despite many positive developments over the past few months.

“The MATIC token was hard hit by the cryptobear market hit and is up about 50% since I last covered the project in March, although it’s starting to show some signs of recovery.

Alongside the crypto bear market, MATIC token has been suppressed by selling pressure as evidenced by the sizeable increase in circulating supply over the past few months. Since March, MATIC supply has increased by approximately 340 million.”

According to the analyst, despite its difficulties, MATIC could see a boost as Ethereum moves from a proof-of-work mechanism to a proof-of-stake mechanism. Guy says Polygon will benefit from the switch as its scaling solutions become more environmentally friendly.

investment tip Polygon (MATIC) Likely to Ahead of Ethereum Merger Next Month, Coin Bureau Host Says, Crypto Trading News

“MATIC is likely to continue its short-term rally regardless of these fundamentals due to Ethereum’s upcoming transition to a Proof of Stakewhich takes tokens like MATIC on a mission to the moon.

Based on Admittley Amateur technical analysis, MATIC could rally to $1.50 ahead of the move. Ethereum merger to rise in mid-September. This aligns with the course of ETH itself, which is predicting up to a 2x increase by then.

This also makes sense because MATIC will almost certainly benefit from the merger as it will make their scaling solutions greener. This will further increase Polygon’s already high attractiveness for institutional investors…

Additionally, Polygon’s scaling solutions will still be needed post-merger as the merger will not impact Ethereum transaction speeds or fees significantly, if at all.”

MATIC is trading at $0.919 at the time of writing, up 1.7% on the day.


Featured Image: Shutterstock/Mia Stendal

Source: Crypto News Deutsch

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