Trader Lark Davis Predicts Polygon (MATIC) To Rally To $10 By End Of 2022
According to crypto analyst and trader, Lark Davis, Polygon (MATIC) – a layer-2 Ethereum (ETH) solution – will see a huge breakout this year.
The analyst shared with the 479K subscribers on his YouTube channel that multi-chain scaling solution Polygon (MATIC) is doing really well as “the premier side-chain for Ethereum.”
Polygon’s recent growth is one aspect that Davis is especially impressed with.
“Of the 129 million accounts that have used Polygon over the last eight months, only 15% have addresses on Ethereum.
That means 85% of the new Polygon users are Polygon natives.”
The analyst also points out that Polygon’s low fee structure is eating market share from Ethereum in the non-fungible token (NFT) field.
“If you’ve ever tried to buy an NFT on Ethereum you know it can be a painful process. If you’ve ever tried to claim an NFT drop on Ethereum you know it’s a very expensive process.
We’ve seen Polygon really picking up in the number of NFTs sold. We can see from July, when we had 50,000 Polygon-based NFTs sold, to now where we have… 1.99 million NFTs sold in the month of December on Polygon on OpenSea.
That’s absolutely massive, massive growth for the Polygon ecosystem.”
Another interesting aspect that Davis mentions is that there are a number of other blockchain-based projects that are moving over to the Polygon network.
“In the last year, we’ve seen: Aave, which is one of the biggest DeFi (decentralized finance) protocols, OpeaSea, the biggest NFT marketplace, The Sandbox, which is one of the biggest metaverses.
All this stuff coming over to Polygon because it’s a great user experience.”
The analyst has a very bullish price prediction for MATIC.
“I believe that a $10 MATIC is inevitable. I think it’s going to come. I think it’s going to happen. It’ll be glorious…
Looking at the network statistics, I’m seeing a network that’s taking off in a serious way. Users are piling in. Money’s piling in. Developers are piling in. Tokens are going to be burned.
$10 is coming. MATIC will be a top-10 coin by the end of the year is my prediction.”
During 2021, MATIC went up from $0.03 to an all-time high of $2.92 on December 26th and ended the year above $2.50.
At the time of writing, Polygon is trading at $2.33 up 11.8% on the 24-hour window.
