MATIC is described as “the most upside balanced token with the least amount of downside,” by the anonymous host of InvestAnswers. During a new YouTube video, he states that blockchain scaling solution Polygon (MATIC) is his top altcoin pick.
The analyst also says Polygon, according to his calculations, has the third-highest “smart-contract platform score” after Ethereum (ETH) and Solana (SOL).
“It has the lowest risk. It has extremely high adoption. [It has] very solid daily active users, especially considering all the stuff that’s happened in this crypto winter. It has ZK (zero knowledge) rollup functionality, and the move of Ethereum to proof-of-stake will not negate the need for L2s at all, by any stretch.”
MATIC is trading at $0.82 at time of writing. The 17th-ranked crypto asset by market cap is up more than 1% in the past 24 hours and nearly 15% in the past seven days. The token is also down more than 70% from its all-time high of $2.92, which it hit last December.
The InvestAnswers host cautions that he doesn’t offer financial advice but says the $0.60 is a “pretty solid” historical support level for Polygon. He also notes that $0.65-$0.66 represents a “killer entry” for the altcoin.
Via this Site //Thedailyhodl.com
Featured Image: Shutterstock/JLStock/Voar CC
