Polygons matic token is going to ten dollars and there ain’t nothing. You can do to stop it in today’s video I’m going to share some incredible news and information and statistics about polygon. That just confirm why i am so gosh darn bullish on polygon moving forward. So I’ll be covering all that, for you in today’s video, my name is lark everyday. I make videos talking about cryptocurrency investing.
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This is a cryptocurrency. I have been bullish on for a very long time. You’Ve probably noticed we’ve talked about it a lot over the last year. We first started talking about it when i was around just a few cents, now we’re up to a few dollars. The question then becomes, though, how much higher can polygon realistically go?
Is there more fuel left in the tank? Well, if there is more fuel left in the tank for this bull run, and i believe that there is then yes there’s definitely more space for polygon to continue to appreciate in value now. Polygon has basically positioned itself as the premier side chain for ethereum. So all the sweet stuff you can do on ethereum you can do on polygon, but just for a fraction of the price, your average polygon transaction costs, fractions of a cent um doing more complicated, defy stuff might cost a few cents over on polygon. It’S ridiculously cheap to use ridiculously fast.
It’S a great experience. If you haven’t used it yet you should definitely go ahead and try that out, because using polygon is pretty gosh darn sweet polygon is not just stopping at being a side chain for ethereum. They have so much more going on there, but also acquired over the last year, two major zk roll up based protocols. So this means that they are able to work across chains and have different solutions on top of ethereum. So they have uh picked up hair maze and the mirror protocol.
So these are both roll-up solutions that polygon will also be implementing and bringing out they’re. Also working with global accounting, firm ernst and young for nightfall now nightfall is something that ernst young launched on ethereum. There are now also on launching it on polygon, so this basically allows for low-cost private transactions, so very cool stuff right here, uh in collaboration of course, one world’s biggest accounting firm, so polygon is doing a lot of stuff. There’S a lot of technology being developed at a regular basis over here in polygon land, but it’s the statistics that have been blowing my mind recently in this tweet here from spencer noon. He says xerox: polygon bridges have seen 500 million dollars in inflows over the last seven days, half a billion dollars moving over from other chains to polygon.
That’S massive more than 28 billion dollars all time right now, dwarfing all other block chain bridges, meaning that there is a lot of money coming into the polygon ecosystem, because it’s a great user experience for people using that ecosystem. So those incredible incredible stats and look the stats, don’t stop there. It’S been a crazy year for polygon, 2021 was absolutely nuts. We went from. You know zero to 100 miles an hour real fast for polygon, and i think that 2022 is gon na be another great year for polygon as well.
So in 2021, 100 million plus wallets for polygon. More than 3 000 applications launched on polygon, more than a billion transactions happened on polygon. Massive six new uh solutions were released. We talked about a few of those already, as well as uh top names coming into the ecosystem. We’Ll talk more about that in a minute.
Massive brand partnerships as well like dolce gabbana uh, the nfl macy’s massive massive partners coming into polygon, because all these brands realize man, people don’t want to spend hundreds of dollars to move their nft or get an nft or claim nft or any other stuff. You have to do in the ethereum main chain: it just costs, painful amounts of money, no one’s going to use it well, not to say no one’s going to use, but in terms of new users coming in no one’s going to want to do that. Obviously ethereum. I use it all the time lots of people use ethereum all the time in spite of the high fees. But if you want to onboard new people, it’s not a very awesome user experience say: hey here’s, a sweet nft by the way, if you want to do anything with that, it’s going to cost 100 bucks versus comes the polygon.
Hey here’s an ft and if you want to do anything with that, it’s going to cost a penny big difference in user experience for people coming in so crazy year for 2021 for polygon now of the 129 million accounts that have used polygon over the last eight Months this blows my mind. Only 15 have addresses on ethereum. That means 85 of the new polygon users are polygon natives. These people just skipped right over ethereum. I don’t need that that expensive ethereum chain was gon na, go right over polygons start doing stuff playing games.
Getting nfts doing all my fun stuff doing d5 for cheap, cheap fees. The numbers speak for themselves. That’S in freaking, credible 85, don’t have addresses on ethereum mind-blowing stuff. They are onboarding users like crazy into the crypto space. We also saw polygon welcoming 7200 new developers just in december, just in december.
That’S insanity, man that is such a massive amount of mind, power coming into the polygon ecosystem and, of course, they’re coming to polygon, because it’s an ethereum compatible side chain. So they can come. Deploy their applications on top of polygon and get the same kind of user base, the access to that user base test things out and you can later deploy it on ethereum or deploy it on another ethereum virtual machine compatible chain like avalanche or something like that later. On polygon is becoming a developer hotbed of innovation, so it’s really awesome to see. In the last week, as spencer newton points out, here, 1.
million smart contracts were deployed on polygon compared to 105 000. On massive, that’s a massive difference: 18 times as many smart contracts were done on polygon compared to ethereum, all those developers are doing stuff, those 7200 developers, they’re developing they’re, launching stuff and that’s awesome to see. We also see nfts taking off in a very serious way. If you’ve ever tried to buy an nft on ethereum, you know it can be a painful process. If you ever tried to claim an nft drop on ethereum.
You know it’s a a very expensive process, but we’ve seen polygon really picking up in the number of nfts sold. So we can see from july when we had 50 000. If your polygon-based nft sold to now, where we have basically 2 million 1.99 million nfts sold in the month of december on polygon on openc, that’s crazy! That’S crazy statistic!
Right there! It’S absolutely massive massive growth for the polygon ecosystem and you can see these crazy statistics here. Over 10 000 nft collections on polygon 15 billion total assets, 80 plus active games, 2
5 billion dollars in nft trading volumes – that’s just insanity for polygon, massively massively taking off with nfts right now. So it’s really awesome to see that happening as well. We also have the polygon network being so popular for gaming and nfts that uh the the network is even getting a bit congested at times, because some games have been so gosh darn popular there’s, a new game called uh, sunflower and basically people.
It’S like a farming style game and some people are coming in getting those nfts playing the game. They’Re going crazy for it so really really great to see applications that people want to use and that they’re enjoying using and that they’re, using like crazy, absolutely awesome to see happening over here on polygon. We also this year had some really big okay. I guess it was technically the end of last year. It’S a 20 22 come on come on hop on board the process here, man so uni swap is now live on polygon.
This is incredible. Uni swap is the biggest decentralized exchange in the freaking world and was always one of my gripes like come on. Man, when’s uni swap gon na get on polygon. Well now it’s happened. We do.
I now have uni swap live on polygon, so you can go and make trades. Add liquidity all the fun stuff that you can normally do on polygons. So that’s a really really big deal to see that happening so very excited to see the biggest decentralized exchange out there coming, of course, to the polygon ecosystem. We also, of course, have quick swap which is um one of the most used decentralized exchanges in d5, after uni swap so they’ve got a massive user base as well, and that’s um, that’s more like polygons uni swap version so be interesting to see how quick swap Does now that uni swap is actually on a polygon as well, but we’ve seen a lot of users in there using this decentralized exchange already. So it’s pretty good, but that’s not all.
In the last year we’ve seen ave, which is you know, one of the biggest d5 protocols open c, obviously, the biggest nft marketplace, um sandbox, which is one of the biggest metaverses all this stuff coming over to polygon, because it’s a great user experience using polygons. So it’s not surprising to see all these guys hopping on board. We, of course, also have this. The the final piece of the puzzle, if you will polygon, is launching eip1559, which is currently live on the test net for polygon now in case you’re, not familiar with this. This is the burning mechanism that ethereum brought in.
So we have all this. You know user growth exploding for polygon nfts are up. Users are up dfi’s up total value, all this stuff, all this stuff going crazy and then we’re gon na start burning off matic tokens on every single transaction. Much in the same way, ethereum is doing right. Now, nice, nice – that is, super super cool.
So, for all of these reasons and more, i believe that a 10 matic is inevitable. I think it’s going to come. I think it’s going to happen and it’ll be glorious glorious when it does just hodling on until then staking my matic over lending technically lending mymatic uh over on celsius just sitting back and waiting for it all to happen. I’M looking at the network statistics, i’m seeing a network, that’s taking off in a serious way. Users are piling in money’s, piling in developers are piling in tokens, are gon na be burned; ten dollars is coming, matic will be a top ten coin by the end of the year.
Is my prediction anyway, just my two way for the day, if you will your question for today, do you think a 10 matic is a possible price point, or is this just a bit too much hopium from old larco here we’re already in a bear market matt? It’S going to zero, something like that. You let me know your opinion down below in the comment section thanks so much for watching today’s video and peace out till next time. You