Youtuber and analyst Ben Armstrong, who stands out with his videos on cryptocurrencies, seems to have focused on an altcoin project recently. Here are the analyst’s expectations and the details of his analysis…
Analyst’s focus is on the popular altcoin MATIC
Famous crypto YouTuber Ben Armstrong believes Polygon will take the lead in the next bull run. According to Armstrong, Blockchain is getting more mainstream exposure, the exposure rate is higher than any other. It also gains partnerships with some of the world’s well-known brands. Therefore, when the market moves again, Polygon’s altcoin to watch is MATIC. Armstrong noted that despite the bear market, Polygon has gone into many partnerships and mainstream since early 2022. This gave MATIC significant momentum and headwind ahead of an upcoming rally.
cryptocoin.com As we have also reported, some of the companies that Polygon has partnered with include Dolce and Gabbana, Disney and payment processing platform Stripe. According to Armstrong, this action by Polygon sets him apart as the corporate partner of major companies in crypto. He noted that the emergence of these initial partnerships has attracted more companies to Polygon. Polygon is a layer 2 blockchain running on top of Ethereum. Designed to scale better and allow cheaper fees, it executes transactions at a much higher throughput rate. These qualities of Polygon cause Armstrong to describe it as “a Band-Aid for Ethereum.”
This development is critical for Polygon.
Armstrong talked about an important event for Polygon this year, which he believes will affect its growth. Polygon has announced that the zkEVM (Zero Knowledge Ethereum Virtual Machine) mainnet beta will begin on March 27, 2023. Although Polygon has not clarified what the launch will entail, zkEVM is considered a breakthrough technology that will increase the speed and cost of Blockchain transactions. zkEVM is also known to generate cryptographic proofs to process transactions faster before sending them back to layer 1 networks.
Armstrong has acknowledged a claim on Polygon’s website that says blockchain will lay the foundation for the future of Web3. Meta’s Instagram gave examples reflecting that this process has already begun, with JP Morgan, Nike, and Starbucks already adopting Polygon in various capacities. According to Armstrong, Polygon has gained a reputation as the default blockchain of champions. Although Layer 2 Blockchain could not exist without Ethereum, he believes Polygon is much better than ETH.
At the time of writing, MATIC is changing hands at $1.26, down 5.6 percent. The cryptocurrency has slumped close to 17 percent in the past seven days. The current price tag of the MATIC is around $1.26.
