Should you invest?
In a shock to many cryptocurrency investors, Polygon (MATIC) surprisingly rallied 120% in May even while bitcoin fell by 35% and several other popular cryptocurrencies also fell by greater than 20%.
According to Yahoo, “MATIC was able to withstand the worst effects of the downdraft thanks to Polygon’s soaring usage and constant growth in the congestion and high costs that plague the DeFi-dominating Ethereum blockchain.“
Furthermore, an analyst from IntoTheBlock said, “Throughout 2021, Ethereum fees skyrocketed up to 845% compared to the year before; currently, a transaction on the network costs around $4.819. On the other hand, transacting on the Polygon network only costs around $0.001 to transfer $200.”
Currently polygon has gained the attention of several high profile investors such as Mark Cuban and more. We can never be sure when investing in cryptocurrency but it looks like polygon is earning the respect of some serious investors.
Will you be taking the risk and investing in Polygon? Share your thoughts int he comments below…