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This is a really tough short. Polygon is literally taking in all of the growth Ethereum should be seeing but is not due to its slow move to scale. With that said Polygon started February at $0.04 and is now sitting at $0.72 with a 3.8 Billion valuation. Just like Solana I really see Polygon not going lightly into the darkness of a correction. However, 18xing in less than three months is an incredible pace which can't possibly be maintained. This is like an unmovable object (The Limits of a Parabolic Move) going up against an unstoppable force (Polygon benefiting from parabolic Ethereum growth). With that said, Polygon most likely has priced in a lot of the positivity from a Coinbase listing to the Ethereum growth it is experiencing. I do not see Polygon falling drastically far and the decline will be bought up quickly. However, investment is certainly starting to create a short term bubble in Polygon that will be popped and we will see Polygon pull back to a level more in line with where usage demand is. I believe this means Polygon retests the $0.50-$0.60 range before proceeding higher.
This is a really tough short. Polygon is literally taking in all of the growth Ethereum should be seeing but is not due to its slow move to scale. With that said Polygon started February at $0.04 and is now sitting at $0.72 with a 3.8 Billion valuation. Just like Solana I really see Polygon not going lightly into the darkness of a correction. However, 18xing in less than three months is an incredible pace which can't possibly be maintained. This is like an unmovable object (The Limits of a Parabolic Move) going up against an unstoppable force (Polygon benefiting from parabolic Ethereum growth). With that said, Polygon most likely has priced in a lot of the positivity from a Coinbase listing to the Ethereum growth it is experiencing. I do not see Polygon falling drastically far and the decline will be bought up quickly. However, investment is certainly starting to create a short term bubble in Polygon that will be popped and we will see Polygon pull back to a level more in line with where usage demand is. I believe this means Polygon retests the $0.50-$0.60 range before proceeding higher.