Bloomberg also predicts that this altcoin outperforms Bitcoin in the long run.
This altcoin performance looks remarkable
Polygon is a blockchain that has left its mark on the industry. According to Bloomberg’s latest report, Polygon is known for its remarkable growth and ever-increasing adoption. Bloomberg Senior Macro Strategist Mike McGlone has released a recent report reviewing Polygon’s remarkable performance over the past few years.
Polygon has been recognized by Bloomberg for its ability to scale various decentralized applications. Polygon has outstripped long-standing rival Ethereum to host most dApps this year. Also, Bloomberg quoted:
“Of the entire blockchain economy worldwide, Polygon has the third largest ecosystem for decentralized applications (dApps). Many of the most popular DeFi dApps on Ethereum, including Aave and Uniswap, have been ported to Polygon and are being developed there. 359 dApps, more than three times the nearest L2 competitor and half that of Ethereum.”
Bloomberg also recognizes that Polygon Network has more developers than other Layer 1 alternatives such as Avalanche and Fantom. In addition, according to Kriptokoin.com data, MATIC is trading at $1.22 with an increase of 1.5%. Polygon makes frequent headlines for its many partnerships with some of the most valuable traditional Fintech companies in the world, and Bloomberg rightly admits it.
In January, MasterCard hired Polygon to engage artists in the web3 ecosystem through an artist acceleration program. Polygon has recently partnered with global brands such as Starbucks, Nubank, Adobe, Adidas, Prada and many more.
They said Ethereum will overthrow Bitcoin
Bloomberg predicts higher asset prices and higher volatility. This would then cause cryptocurrencies to face their first real recession.
Bitcoin’s debut came during the recent economic recession in the United States. Bloomberg is of the opinion that a similar turning point will occur as the economy enters another turning point. However, it is impossible to say how much loss will be recorded in the market before gains are sustained in the future.
Bloomberg detects a stagnant bull market between Ethereum and Bitcoin, which it calls digital gold. According to Bloomberg’s galaxy crypto index, there has been a stable Ethereum/Bitcoin ratio since the 2021 peak.
This shows that digital assets are moving towards a strong mainstream audience. “After dusting off some of the revisions in risk assets,” Bloomberg is confident that Ethereum will outperform Bitcoin.
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