Polygon Volume Plunged since ETH Merger

Polygon is a Layer-two blockchain aiming to provide a faster and more scalable Ethereum experience. However, it is more than just a simple scaling solution and has garnered some attention over the last weeks.

MATIC, the chain’s token, is much faster than Ethereum because of the ability to bundle transactions and, as a result, save gas fees and increase the TPS to 65,000, compared to ETH’s 17 TPS before the merger.

In addition, the blockchain developer team offers advanced SDKs and other tools to port decentralized applications (dApps) to Ethereum easily. For this reason, the ecosystem has exploded since last year in unison with the meager fees, attracting many project developers.

Overall, the experience of Polygon and Ethereum is almost identical, especially since the merger. However, MATIC signed some significant deals with media conglomerate Disney to develop new Web3 technologies surrounding Augmented Reality, NFTs, and Artificial Intelligence.

At the time of writing, MATIC is trading briefly above $0.80, a slight decline of less than 2% over the last 24 hours and resulting in a $7B evaluation, which makes it the 11th biggest cryptocurrency by market capitalization.

Price Prediction

Since the 15th of September, Polygon has seen a sharp decline in trading volume, which indicates that the Ethereum Merger takes mitigates some of the benefits the chain offered compared to ETH. However, Polygon adds, on average, 150,000 wallets per day to its network despite these concerning numbers.

Analysts and investors fear that ETH 2.0 makes Polygon less essential or even obsolete. Hence predictions till 2025 are mostly bearish and do not indicate any new All-Time High for the L2 chain. In addition, technical analysis using moving averages, oscillators, and pivots also signals to take a short position.

Nonetheless, from 2025 onwards, with the condition that Polygon makes itself essential for the Ethereum network, a new ATH of $3.97 is forecasted for that year. However, please tread wary, as this prediction remains highly speculative due to many unknown factors.

Alternative to Polygon

Decentralized finance is full of opportunities, innovations, and opportunities that wait to be discovered. One of these high-potential opportunities lies in Uniglo.io.

GLO, the native currency, is an asset-backed token that finds its base value protected by an assortment of cryptocurrencies, digitized commodities, stablecoins, and digital art (NFTs).

This rock-solid foundation in symphony with the so-called Ultra-Burn feature gives the decentralized autonomous organization (DAO) a head-start on the competition. As a result, not only is the value weathered against volatile market situations but further its value is set to appreciate due to an increasingly scarce supply.

Final thoughts

Diversification remains a reliable tool to come out on top of every bear market. However, choosing the right assets is not always easy. Polygon (MATIC) stays a long-term investment with the potential of not overcoming its old ATH of $2.92. At the same time, Uniglo.io offers a high-return opportunity, which is still available in the final presale phase till the 15th of November.

>>> Buy Uniglo.io Presale <<<

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