Polygon (MATIC) has seen large swings in 2021. It started the year on a monster bull run that took it to $2.4544 in March. It then nose-dived to $0.6901 in July and then started another that it has maintained to date amid several small pullbacks.
During the same period, Polygon has also made several milestones including the recent acquisition of the zero-knowledge (ZK) protocol developer, Mir, for $400 million. The acquisition is expected to add to Polygon’s strengths as it seeks to aggregate various Ethereum-based blockchains and allow them to communicate with one other.
To that end, Guy, the host of the highly popular cryptocurrency trading YouTube series “Coin Bureau,” said that the price of Polygon (MATIC) could double or triple in the course of the current cycle depending on how well Polygon implements its scaling solutions.
In a Video release about five days ago on the Coin Bureau channel, Guy said that the price of MATIC is on a pace to increase by two or three folds before the current bull market ends. He noted that the key to the coin’s expansion was in Polygon’s strong roadmap and emphasis on increasing scalability.
Guy said:
“If you’re wondering how far MATIC could go before this bull market ends, a conservative estimate is another 2-3x… MATIC’s massive market cap means that it’s unlikely to grow much larger than that. That said, it is possible that MATIC could make an even bigger move, but that ultimately depends on Polygon’s roadmap.”
Polygon’s roadmap
Sandeep Nailwal, who is Polygon’s co-founder, recently outlined the project’s roadmap that focuses on five key areas.
The co-founder also highlighted the importance of launching the Avail Side Chain, which is a general-purpose scalable blockchain for independent chains, off-chains, and side-chains solutions.
Another thing that the roadmap focuses on is the NightFall ZK Rollup, which is a scaling solution that is intended to help in executing transactions outside the Polygon blockchain.
Guy’s remarks on Polygon (MATIC)
While sighting that the Polygon team intends to implement most of the scaling solution by early next year, Guy explained why he was so bullish on MATIC and also gave his end-of-year price target in a video titled “Top Altcoin Picks 2021 Q3.”
In the video, Guy said that Polygon is the most preferred layer 2 scaling solution for Ethereum saying that some of the most popular decentralized applications (DApps) have been built on Polygon. Some of the DApps that he cited include Aave, Dcentraland, and SushiSwap.
Guy also noted that Polygon is home to over 300 DApps with a Total Value Locked (TVL) of over $9 billion.
Another thing that Guy noted was the recent integration of Polygon wallet by Binance and Coinbase exchanges.