{"id":559818,"date":"2023-11-09T03:00:16","date_gmt":"2023-11-09T03:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=559818"},"modified":"2023-11-08T19:31:43","modified_gmt":"2023-11-08T19:31:43","slug":"analyst-endorses-matic-double-down-polygon-ethereum-layer-2-tokens","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/matic\/analyst-endorses-matic-double-down-polygon-ethereum-layer-2-tokens\/","title":{"rendered":"Analyst Endorses MATIC, Time To Double Down On Polygon And Ethereum Layer-2 Tokens?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Ryan Sean Adams, a vocal Ethereum commentator and crypto investor, is bullish on MATIC, the native token of Polygon. Taking to X on November 8, Adams\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/RyanSAdams\/status\/43395487\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">said<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0MATIC should be a top-10 crypto asset, adding that people are asleep on layer-2s.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Polygon (MATIC) Remains In An Uptrend<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">When writing on November 8, MATIC is among the top 15 most valuable coins by market cap. It also remains volatile, fluctuating, and moving up and down the market cap leaderboard rankings. Even so, considering its spot valuation exceeding $7.3 billion according to CoinMarketCap (CMC), a crypto tracker, MATIC remains relatively liquid with a broad user base.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-failed-transactions\/\" target=\"_blank\" rel=\"noopener \">Ethereum Failed Transactions: You Won\u2019t Believe How Much Users Have Lost<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Etherscan\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/etherscan.io\/token\/0x7D1AfA7B718fb893dB30A3aBc0Cfc608AaCfeBB0\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on November 8 shows that there are 629,967 MATIC holders, down roughly 2%, but the number remains higher despite the contraction following the crypto winter of 2022, which spilled over to 2023.<\/span><\/p>\n<figure id=\"attachment_559819\" aria-describedby=\"caption-attachment-559819\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-559819\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?resize=1024%2C394\" alt=\"MATIC holders | Source: Etherscan\" width=\"1024\" height=\"394\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?w=1111 1111w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Screenshot448.png?w=750 750w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-559819\" class=\"wp-caption-text\">MATIC holders | Source: Etherscan<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">As of November 8, MATIC is up 60% from September 2023 lows. According to CMC, the coin is also up 13% on the last trading day, pushing weekly gains to over 27%. Looking at the candlestick arrangement in the daily chart, the uptrend momentum is strong, and buyers appear to be doubling down. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Presently, bull bars are aligned along the upper BB, suggesting that there is intense buying pressure. At the same time, MATIC is within a bullish breakout formation, breezing past August highs.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Polygon, a sidechain, is among the many scaling solutions for <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-failed-transactions\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>. The platform is compatible with Ethereum, allowing protocols to build on Polygon while enjoying the high activity and security of the first smart contract network. Polygon is also considered a layer-2, though it isn&#8217;t technically a layer-2 since it doesn&#8217;t depend on roll-ups like Arbitrum or <a href=\"https:\/\/wncen.com\/optimism-2\/optimism-op-climbs-6-a-day-as-crypto-market-rebounds-whats-next\/\" target=\"_blank\" rel=\"noopener \">OP Mainnet<\/a>.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Time To Double Down On MATIC And Layer-2 Tokens<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In Adams&#8217; view, considering layer-2 tokens, including MATIC or ARB, at spot levels could translate to more gains in the next bull run. Nonetheless, it should be noted that MATIC, for instance, is down 72% from 2021 highs. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moreover, the coin is trending inside June&#8217;s bear trade range. A comprehensive close above this level may signal the end of the bear run, possibly anchoring buyers targeting $1.5.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/oIEWhC8D\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/oIEWhC8D\/\" alt=\"Polygon price trending upwards on the daily chart | Source: MATICUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Polygon price trending upwards on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/oIEWhC8D\/\" target=\"_blank\" rel=\"noopener nofollow\">MATICUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In late October, Polygon Labs officially launched the POL, a token that will prime Polygon 2.0, Ethereum, signaling the first steps to see MATIC gradually phased out. POL will serve more roles in Polygon 2.0, specifically powering an ecosystem of zero knowledge-based layer-2 chains using Polygon&#8217;s infrastructure. News of this smart contract launch seemed to have catalyzed demand, driving token prices higher.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-key-resistance-november-surge\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Price Eyes Key Resistance, Poised For November Surge<\/a><\/div>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ryan Sean Adams, a vocal Ethereum commentator and crypto investor, is bullish on MATIC, the native token of Polygon. Taking to X on November 8, Adams\u00a0said\u00a0MATIC should be a top-10 crypto asset, adding that people are asleep on layer-2s. Polygon (MATIC) Remains In An Uptrend When writing on November 8, MATIC is among the top 15 most valuable coins by market cap. It also remains volatile, fluctuating, and moving up and down the market cap leaderboard rankings. Even so, considering its spot valuation exceeding $7.3 billion according to CoinMarketCap (CMC), a crypto tracker, MATIC remains relatively liquid with a broad user base.\u00a0 Related Reading: Ethereum Failed Transactions: You Won\u2019t Believe How Much Users Have Lost Etherscan\u00a0data\u00a0on November 8 shows that there are 629,967 MATIC holders, down roughly 2%, but the number remains higher despite the contraction following the crypto winter of 2022, which spilled over to 2023. As of November 8, MATIC is up 60% from September 2023 lows. According to CMC, the coin is also up 13% on the last trading day, pushing weekly gains to over 27%. Looking at the candlestick arrangement in the daily chart, the uptrend momentum is strong, and buyers appear to be doubling down. Presently, bull bars are aligned along the upper BB, suggesting that there is intense buying pressure. At the same time, MATIC is within a bullish breakout formation, breezing past August highs.\u00a0 Polygon, a sidechain, is among the many scaling solutions for Ethereum. The platform is compatible with Ethereum, allowing protocols to build on Polygon while enjoying the high activity and security of the first smart contract network. Polygon is also considered a layer-2, though it isn&#8217;t technically a layer-2 since it doesn&#8217;t depend on roll-ups like Arbitrum or OP Mainnet. Time To Double Down On MATIC And Layer-2 Tokens In Adams&#8217; view, considering layer-2 tokens, including MATIC or ARB, at spot levels could translate to more gains in the next bull run. Nonetheless, it should be noted that MATIC, for instance, is down 72% from 2021 highs. Moreover, the coin is trending inside June&#8217;s bear trade range. A comprehensive close above this level may signal the end of the bear run, possibly anchoring buyers targeting $1.5. In late October, Polygon Labs officially launched the POL, a token that will prime Polygon 2.0, Ethereum, signaling the first steps to see MATIC gradually phased out. POL will serve more roles in Polygon 2.0, specifically powering an ecosystem of zero knowledge-based layer-2 chains using Polygon&#8217;s infrastructure. News of this smart contract launch seemed to have catalyzed demand, driving token prices higher. Related Reading: Shiba Inu Price Eyes Key Resistance, Poised For November Surge Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":559820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86487],"tags":[84309,1946,79567,40670,86442,79614,83584,86440],"class_list":["post-559818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic","tag-arbitrum","tag-ethereum","tag-layer-2","tag-matic","tag-matic-price","tag-maticusdt","tag-polygon","tag-polygon-price"],"acf":[],"yoast_head":"\n<title>Analyst Endorses MATIC, Time To Double Down On Polygon And Ethereum Layer-2 Tokens?<\/title>\n<meta name=\"description\" content=\"Ryan Sean Adams, a vocal Ethereum commentator and crypto investor, is bullish on MATIC, the native token of Polygon\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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