Polygon ($MATIC) May Outperform Bitcoin ($BTC) Before Big Launch, Says Prominent Analyst

Polygon ($MATIC), a Layer-2 scaling option for Ethereum that gives users quicker transactions and reduced transaction fees as a parallel blockchain operating alongside the main Ethereum network, may soon surpass Bitcoin and the broader cryptocurrency market.

According to the well-known pseudonymous cryptocurrency expert Pentoshi, the cryptocurrency might reach a new all-time high versus the leading cryptocurrency Bitcoin ($BTC) “this week or next” following a strong performance during the bear market and ahead of a big launch.

As reported by CryptoGlobe, Polygon added 46 million new addresses to its network in only six months, while the price of its native token, which is used to pay transaction fees and safeguard the network via staking, continued to beat the broader cryptocurrency market.

JPMorgan executed the first-ever deal using decentralized finance on a public blockchain using the Polygon network at the moment, demonstrating the network’s increasing popularity.

According to Pentoshi, the debut of the zero-knowledge Ethereum Virtual Machine (zkEVM) beta mainnet may result in a price increase for $MATIC.

On March 27, Polygon will release the beta version of its zkEVM mainnet, a scaling solution that uses zero-knowledge proofs to enable Ethereum-compatible smart contracts.

The Polygon team claims that zkEVM can guide 100 times more transactions per second than Ethereum while retaining decentralization and security. In addition, Polygon has announced a $100 million funding program to encourage developers to create apps on the zkEVM platform.

In a further tweet, Pentoshi disclosed that they had begun acquiring $MATIC and would add more if the token’s price falls below $1.34. The cryptocurrency is selling at $1.53 at the time of writing, a 25% increase from seven days ago.

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