Polygon (MATIC) has demonstrated remarkable resilience in the face of bearish sentiments in the crypto market over the past 18 months. As a prominent layer two (L2) scaling solution, it has garnered significant attention from institutional investors seeking entry into the decentralized financial (DeFi) sector via the Ethereum ecosystem.
Consequently, experts anticipate that Polygon (MATIC) will emerge as one of the top-performing altcoins with substantial liquidity during the forthcoming crypto bull market, which is expected to be triggered by the next Bitcoin halving in the coming year.
Renowned crypto analyst Captain Faibik, who boasts a Twitter following of over 62k, recently highlighted the gradual approach of Polygon (MATIC) to the tipping point of a macro-symmetrical triangle. In light of this, the analyst urged crypto traders to continue accumulating and holding the altcoin. Additionally, the analyst predicted a potential rally of up to 1500 percent following a breakout in MATIC’s price.
On the fundamental side, the Polygon (MATIC) community celebrated a favorable ruling regarding XRP and Ripple, which was seen as a partial victory for the altcoin industry in the United States. Moreover, the community gained a better understanding that most crypto exchange sales are not classified as securities in the country.
Meanwhile, the Polygon community has been presented with a proposal to change the native token’s name from MATIC to POL, at a ratio of 1:1. If approved, the POL tokens will carry a 2 percent inflation rate, with the proceeds being shared between the community treasury and the network validators.
Source: https://coinpedia.org/price-analysis/polygon-matic-price-all-set-for-bull-run-analyst-predicts-10x-rally-heres-the-timeline/