Polygon (MATIC) Likely To Surge Ahead of Ethereum Merge Next Month, Says Coin Bureau Host

A popular cryptocurrency analyst says blockchain scaling solution Polygon (MATIC) is poised to rise ahead of the long-awaited Ethereum (ETH) Merge next month.

in a new video updatethe Coin Bureau pseudonymous host known as Guy says MATIC is struggling despite seeing a number of bullish developments over the past few months.

The MATIC token has been hit hard by the cryptocurrency bear market and has dropped nearly 50% since I last covered the project in March, but is starting to show signs of recovery.

In addition to the crypto bear market, the MATIC token has been held back by selling pressure as demonstrated by a significant increase in circulating supply over the past few months. Since March, MATIC supply has increased by about 340 million. ”

Analysts say MATIC looks poised to surge despite its struggles as Ethereum updates from a proof-of-work mechanism to a proof-of-stake mechanism. Guy says Polygon will benefit from the switch because it makes the scaling solution greener.

MATIC is likely to continue its short-term rally regardless of these fundamentals, and this is a testament to Ethereums proof of stake acquiring tokens like MATIC on missions to the moon. Because the transition is approaching.

Based on accepted amateur technical analysis, MATIC could rise to $1.50 before the Ethereum merge in mid-September. This is in line with ETH’s own price action, which is predicting up to a 2x increase now and then.

This also makes sense as MATIC will almost certainly benefit from Merge as it makes its scaling solution greener. This strengthens Polygon’s already high institutional appeal

Additionally, the polygon scaling solution will still be needed after the merge, as the merge will not significantly impact Ethereum transaction speeds or fees. “

MATIC is trading at $0.919 at the time of writing, up 1.7% on the day.

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