- Nasdaq predicts Polygon will be the Ethereum of 2023.
- Polygon experienced a surge in its market cap within a few months.
- Nasdaq projection emphasizes Polygon’s potential to revolutionize and play a critical role in the DeFi industry.
According to a recent global technology corporation report, Polygon is a cryptocurrency with a distinct form of momentum that might propel it to become the Ethereum of 2023. Furthermore, Polygon blockchain has emerged as the go-to solution for business America.
The co-founder of 0xPolygon, Mihailo Bjelic, backed Nasdaq’s assertion in a tweet and said that, despite his possible bias, it makes perfect sense for Polygon to be the Ethereum of 2023.
Polygon, powered by the MATIC token, is a Layer 2 scaling solution for Ethereum that strives to address the Ethereum network’s high gas prices and poor transaction speeds. It also has a robust development and user community actively striving to enhance the network and boost adoption.
The platform takes advantage of Ethereum’s existing infrastructure and is compatible with current Ethereum dApps, making it an appealing alternative for developers and consumers.
According to Coinmarketcap statistics, Polygon has experienced remarkable development in recent months, with its market value increasing from $300 million to almost $9 billion in months. This growth might be attributed to increased demand for decentralized finance (DeFi) solutions and the need for a more scalable Ethereum network.
Furthermore, based on a Nasdaq blog post, Polygon has seen a surge in commercial clients due to its scalability, development resources, and in part, as it spends millions of dollars luring them.
In light of Nasdaq’s projection, Polygon underlines the potential to revolutionize the DeFi industry and play a critical role in the decentralized economy. Moreover, Polygon can deliver the scalable solution that Ethereum requires to satisfy the demands of the fast-increasing DeFi business, thanks to its unique technology and strong community support.
