Polygon (MATIC) is without a doubt a Top Altcoin Pick – Here’s a 'Killer Entry’ Price

Polygon (MATIC) is without a doubt a Top Altcoin Pick – Here’s a 'Killer Entry’ Price

What is Polgyon (MATIC) and why is it a potential game-changer in the crypto industry?

Polygon (MATIC) is a Layer 2 cryptocurrency.

Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks. In this case, Polygon is built on top of the Ethereum (ETH) network.

Layer 1 is the main blockchain network in charge of on-chain transactions, while Layer 2 is the connected network in charge of off-chain transactions. The Bitcoin network is Layer 1. It offers an abysmal speed of five to seven transactions per second (tps). (Not built for speed)

Polygon, according to YouTuber InvestAnswers, has the third-highest “smart-contract platform score” after Ethereum (ETH) and Solana (SOL).

“It has the lowest risk. It has extremely high adoption. [It has] very solid daily active users, especially considering all the stuff that’s happened in this crypto winter. It has ZK (zero knowledge) rollup functionality, and the move of Ethereum to proof-of-stake will not negate the need for L2s at all, by any stretch.”

MATIC is trading at $0.82 at time of writing. The 17th-ranked crypto asset by market cap is up more than 1% in the past 24 hours and nearly 15% in the past seven days. The token is also down more than 70% from its all-time high of $2.92, which it hit last December.

The InvestAnswers host cautions that he doesn’t offer financial advice but says the $0.60 is a “pretty solid” historical support level for Polygon. He also notes that $0.65-$0.66 represents a “killer entry” for the altcoin.

Edited by BossInVegas.com
Daily Hodl Staff

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