OCT 9, 2023
(Alpha) Weekly Altcoin Review: Polygon ($MATIC)
by Crypto Alpha, BXVb7rtP5dwgpuKWx3S1B78sdwibsPstuowsyzjpU1jE
Crypto Alpha is dedicated to providing you with a weekly altcoin alpha, consistently delivering valuable insights and opportunities in the dynamic world of cryptocurrencies. Stay ahead of the curve with our expert analysis and recommendations, ensuring you have the knowledge and tools to make informed decisions in the ever-evolving crypto landscape.
Google just announced a partnership with the Polygon blockchain. Google Cloud has become a validator of the polygon network. They made mention of “high-quality, trustworthy, and security-conscious authenticators, like Google Cloud being a validator, to provide an additional layer of security” for polygon users. They serve as validators on the polygon Pos network, contributing to the security, decentralization, and governance of the network alongside other numerous validators.
What is Matic?
Polygon (formerly known as Matic Network) is an altcoin, whose project agenda is to widely promote crypto adoption by solving scalability problems across different blockchains. It is a layer 2 scaling solution supported by Binance and Coinbase. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture for easy execution of scalable and autonomous smart contracts.
The partnership with Google Cloud as a validator of the Polygon network could ignite a possible rally in the price of Matic.
“The market is a home of uncertainty (we should never lose touch with such reality), therefore we implore our subscribers to ensure that they protect themselves at all times, not risking/investing what they can’t afford to lose. Trading/investing can involve losing money. As much as we will try to create certainties in an uncertain market, we will only make a review and point out opportunities in the market when the odds are greatly skewed in our favor, it doesn’t mean we can’t be wrong sometimes.”
Let’s see what the chart is saying!
Levels to watch out for? in the chart below, we will be reviewing levels we consider to be safe to bag some Matic to our portfolio.
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