Ryan Sean Adams Bullish on MATIC
According to Ryan Sean Adams, a prominent Ethereum advocate and crypto investor, he is bullish on MATIC, the native token of Polygon. He tweeted that MATIC should be a top-10 crypto asset, and people are not paying enough attention to layer-2s.
Polygon (MATIC) Uptrend
As of November 8, MATIC is among the top 15 most valuable coins by market cap. Despite its volatility, MATIC remains relatively liquid with a broad user base and a market cap exceeding $7.3 billion. Etherscan data shows that there are 629,967 MATIC holders, down roughly 2% from previous figures but still relatively high.
MATIC has seen a 60% increase from September 2023 lows and is up 13% on the last trading day. The coin has strong uptrend momentum with intense buying pressure and is within a bullish breakout formation, surpassing August highs.
Time To Double Down On MATIC And Layer-2 Tokens
In Adams’ opinion, considering layer-2 tokens like MATIC or ARB at current levels could lead to more gains in the next bull run. However, it should be noted that MATIC is down 72% from its 2021 highs and trending inside June’s bear trade range.
A comprehensive close above this level may signal the end of the bear run and possibly anchor buyers targeting $1.5. In late October, Polygon Labs officially launched POL, a token that will prime Polygon 2.0, Ethereum’s first steps to see MATIC gradually phased out.
Hot Take: Bullish Momentum for MATIC
Polygon’s native token, MATIC, seems to have strong bullish momentum as it continues to gain value and attract more users. With endorsements from influential figures like Ryan Sean Adams and developments like the launch of POL by Polygon Labs, there is potential for significant growth in the future.
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