Bloomberg senior macro strategist Mike McGlone has shared with the general public a recent outlook on the crypto market and its newest traits. Within the report, McGlone argued, on the subject of Layer 2 options for Ethereum, that no protocol compares to the sort of community effectivity Polygon (MATIC) has dropped at the desk.

The economist cites the truth that Polygon has change into one thing of a beacon for blockchain builders, utilizing cutting-edge zero-knowledge expertise to make sure privateness and pace of transaction processing.

Ethereum’s largest DeFi platforms equivalent to Aave and Uniswap are migrating to Polygon, and the overall variety of decentralized purposes is greater than 3 times that of its nearest L2 competitor and is sort of half that of Ethereum itself, McGlone notes.

With its growth attraction, Polygon has additionally managed to change into a model of types for NFT and Web3, the economist goes on to say. An increasing number of companies from the skin world are keen to dive into the brand new digital economic system, and in the event that they do, it’s extra usually Polygon that gives the springboard for them to take action. As was reported by U.Right this moment, Coca-Cola, Reddit, Starbucks, Meta, amongst others, have onboarded on Web3 by way of Polygon over the previous 12 months.

Polygon (MATIC) value motion

The worth motion of Polygon’s native token, MATIC, confirms and displays these arguments to some extent. Because the begin of the 12 months, its value has risen by greater than 50%, a fifth of which, about 12%, occurred in February. In the meantime, in opposition to Ethereum, MATIC has proven development of just about 15% for the reason that starting of 2023.