The analyst setting a price target for a Tier 2 scalability solution for 2022 has experienced a watershed year.
In a meeting on the new strategy, James Mallarney of the financial education YouTube channel InvestAnswers tells his 377,000 YouTube subscribers where he believes several of the project’s acquisitions will go to Polygon (MATIC).
“I counted part of my new Ethereum [ETH] Price forecasting model. I was thinking about writing a new EIP-1559 [during the ETH’s London upgrade back in August]…
I have taken into account the new ZK [zero-knowledge framework] Functions and transformations can be helpful.
This leads to my new price prediction for 2022, my bearish fall is the minimum. [$3.90], for my projected fall for next year it is $ 4.61, with my maximum fall of $ 6.31. This will be critical in determining our exit plan. ”
Source: InvestAnswers / YouTube
Using zero-knowledge proofs, one party can prove the authenticity of information to the other party without disclosing it. Cryptographers use the ZK procedure to improve security and data protection.
Mallarney also talks about important principles that explain his long-term optimism about MATIC.
“Polygon MATIK is developing on a multi-track basis. Uniswap is another company to switch to Polygon because Uniswap is struggling with gas costs and voted overwhelmingly to switch to Polygon. ”
The Uniswap Community (UNI) recently voted to have Polygon implement 98.87% of Uniswap v3 over the network.
Mallarney that Polygon has also made giant strides in improving its range of ZK roller scale technologies. According to the analyst, ZK aggregates are important as they include hundreds of off-chain transactions that are instantly verified on the main chain, resulting in faster closings.
Mallarney on Polygon’s recent acquisitions,
“Two of the acquisitions they made: the first is the Hermez company. [open-source ZK rollup for $250 million]and then they recently bought [ZK-proof startup] Mir Protocol for $ 400 million to increase Ethereum capacity.
Shrinking for a second, ZK fusion is obviously one … 2022 will be dedicated to ZK clones. ”
At the time of writing, the MATIC price was $ 2.08 that day. Altcoin rose from $ 0.02 a year ago to an all-time high of $ 2.70 in May.
InvestAnswers predicts that Polygon could outperform other Ethereum rivals in terms of market capitalization.
“The polygon is a beast. He is now in 14th place. More than Algorand and Chainlink …
It can very easily become one of the top 10 cryptocurrencies. “