A known and active trader of the industry speculates for a token to shoot up soon and make its place in the top #50 rank by market capitalization.
The crypto trader known as Smart Contractor puts his bet on Polygon(MATIC), says it could shoot up to $0.48/0.49 price in the weeks to come.
He took to Twitter and shared a chart with his 113,300 followers which indicated MATIC’s probable growth in coming weeks.
“Bull flag inside of a larger bull flag breakout for Matic. Send it.” his tweet read.
According to CoinGecko, Polygon(MATIC) is on the 55th rank based on market cap, it has shot up 250% in value in the past 30 days. Polygon is a blockchain scalability platform that provides secure, scalable, and instant transactions.
It is a layer 2 scaling solution also called Ethereum’s Internet of Blockchains.
The token came to the forefront, when Coinbase announced its listing of polygon along with Skale Network(SKALE) and Sushiswap(SUSHI), earlier this month.
Moving further, the analyst Smart Contractor says, he put stop orders on MATIC, in case his bearish speculation on Bitcoin drags the market down.
He had previously tweeted, expressing his bearish predictions for BTC, he believed it will plunge to $50000 in the coming days.
Polygon in recent times is booming in the market with achieving $457 Million in trading volume across exchanges and has seen an 86.4% rise in the last fortnight. The Coinbase listing has proved to be the icing on the cake.
At the time of writing Polygon(MATIC) is trading at $0.401334.
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Source: https://coinpedia.org/altcoin/polygonmatic-will-soon-hike-up-50-rank/
