Consulting giant Motley Fool evaluated an altcoin project. According to the firm, this cryptocurrency will double its price in the future. The reason for this will be the signing of many partnerships and the Ethereum Merge upgrade on September 15.
“This altcoin forges great partnerships”
According to Motley Fool, Ethereum layer-2 scaling solution Polygon has the potential to double its price in the future. Polygon is a sidechain that solves Ethereum’s problems such as scalability and speed in-house. This network is also developing in different Blockchain areas such as NFT and dApp and Web3. In addition, Polygon’s thriving ecosystem seems to have already attracted the attention of some global giants.
In August, MATIC received acceptance into Disney’s 2022 Accelerator Program. The program operates as a venture fund that supports companies with Disney’s “vision of making an impact on the future of technology and entertainment.” Polygon was the only Blockchain company accepted into this program. By becoming a member, Polygon will have access to funding and resources directly from Disney to thrive. A partnership is also likely to develop between the two as Disney begins to enter the world of NFT and Metaverse.
Facebook, OpenSea and others
Another international company recently announced its partnership with Polygon. Meta CEO Mark Zuckerberg stated that Instagram will introduce NFTs to users in more than 100 countries in Asia, Africa, the Middle East and the Americas in the coming months. This does not include a marketplace where users can purchase NFT. However, they will be able to link a crypto wallet to their social media accounts to showcase their digital collectibles. One of the four selected blockchains is Polygon.
In addition to Disney and Meta news, OpenSea, the world’s most popular NFT marketplace, said it will add Polygon functionality to the site. Accordingly, users will use Polygon’s cheap fees to buy and sell NFTs. On August 31, popular financial trading platform Robinhood decided to list the altcoin asset. Currently, the mobile application has around 16 million active users. Now these users will buy and sell the 12th most valuable cryptocurrency in the world.
“MATIC will double its price in the future”
It’s hard to know how many people might be introduced to the Polygon blockchain in the coming months. It looks like it will potentially serve as the blockchain of choice for Disney. There are also zkEVMs, NFT deal with Facebook, and Robinhood listing. Facebook’s 4 billion social media users and Robinhood’s 12 million investors will gain access to altcoin assets. All this seems to be a driving force for MATIC.
It is trading at around $0.90 today. But in the future this could go even higher. The altcoin made its last ATH in December 2021. That was when it was just shy of $3 at the time. It was also probably just rising with the headwinds of Ethereum. But now the altcoin has made a name for itself with some of the most prolific companies. In light of the latest developments, it is highly likely that the price will rise to $2 in the near term.
How will Ethereum Merge affect the altcoin project?
The highly anticipated Ethereum Merge upgrade is rolling out on September 15. As Cryptokoin.com reported, Merge will migrate Ethereum from PoW to PoS. With Merge, the Ether network will be an energy efficient and high speed network operating with low gas fees. This is what allowed Polygon, an Ethereum layer-2 solution, to expand its user base. This is why many people are wondering what will happen to the altcoin project after the upgrade.
Unlike what you can find in the depths of the internet, there will be no end to Layer-2 sidechains like The Merge, Polygon. In fact, it will help Polygon as it will help Ethereum. The co-development of the Polygon network with Ethereum should set it up to be Ethereum’s primary scaling solution for years to come. So Merge is not the end for the altcoin, but rather an upgrade that will make it even better.
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