Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin

Bloomberg Intelligence has released its official crypto outlook for the month of February, citing massive mainstream adoption of Polygon (MATIC) and forecasting the future of Ethereum’s performance relative to Bitcoin.

The new report covers the rise of Polygon, which is a layer-2 network designed to power crypto projects and scale Ethereum transactions.

“Of the entire worldwide blockchain economy, Polygon has the third-largest ecosystem for decentralized apps (dApps). Many of the most popular DeFi dApps on Ethereum, including Aave and Uniswap, have migrated over and are being developed on Polygon. Its 359 dApps is more than three times that of its closest L2 rival and half that of Ethereum. Additionally, the network has more developers than its closest alternative L1 rivals, Avalanche and Fantom.”

The report also highlights Polygon’s growing adoption by mainstream corporate giants including Nike, Disney, Starbucks, Coca-Cola, Meta and Reddit.

“Based on Polygon’s string of brand-name partnerships in 2H22, this year could be the year of mainstream NFT adoption. The explosion in active users on the network stemmed from several blockbuster corporate partnerships struck by the company behind the network, Polygon Technology.”

Bloomberg Intelligence also analyzes the crypto markets as a whole, noting that this will likely be the first time that Bitcoin (BTC), Ethereum (ETH) and altcoins have to fight through a global recession.

“Cryptos may be facing their first real recession, which typically means lower asset prices and higher volatility. The last significant US economic contraction, the financial crisis, led to the birth of Bitcoin, and the possible coming economic reset may mark similar milestones. A key question is how much price pain will there be before longer-term gains resume.”

As for Bitcoin and Ethereum specifically, Bloomberg Intelligence forecasts that in the long run, ETH is on a definitive path toward resuming a long-term uptrend against BTC.

“The upward trajectory in the Ethereum/Bitcoin cross rate started in 2019 and shows few signs of abating. A resting bull market is our take on the cross between the No. 2 crypto and No. 1 Bitcoin, which is becoming a digital version of gold in a world going that way. The graphic shows the steady Ethereum/Bitcoin rate since the 2021 peak in the Bloomberg Galaxy Crypto Index. That suggests migration into the mainstream, and once the dust settles from some reversion in risk assets, Ethereum is more likely to resume doing what it’s been doing: outperforming.”

You can check out the full report here.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/klyaksun/Vladimir

Leave a Reply

Your email address will not be published. Required fields are marked *

doctors x videos bustyporntube.info tamana hot photos animal free mp3 download tubepatrol.sex 4kpron xvideoskerala sexo-vids.com maa bete ki sexy momo bnha hentai hentairay.com eye hentai نيك في السجن pornucho.com نيك في الجيم mobilexshare fuckholetube.com xossip aunties beeg hd sex blackporntrends.com www.indiansex videos.com xnxx tamil college girls mybeegsex.mobi gandi blue film bp picture video mein newcooltube.mobi kashmiri hot girls xnxx sex vedioes erosexus.info beeg' mom forced xnxx indaporn.info pela peli مواقع سكس هندي bombaporno.com زب مراهق politician mms goratube.mobi gokak sex video كلاسيك سكس porno-izlerim.org لحس كس مثير tere bina jeena saza bigassporntrends.com desi xossip