The anonymous host of InvestAnswers claims that blockchain scaling solution Polygon (MATIC) is its best altcoin choice.
In a new YouTube video, the host tells his 444,000 subscribers that MATIC may not have the most advantages of any token, but it represents “the most advantages balanced with the least disadvantages”.
“It’s the lowest risk. It has extremely high adoption. [It has] very solid daily active users, especially considering everything that happened during this crypto winter. It has ZK (zero knowledge) rollup functionality, and Ethereum’s move to proof-of-stake will in no way negate the need for L2.
MATIC is trading at $0.82 at the time of writing. The 17th-ranked crypto asset by market capitalization is up more than 1% in the past 24 hours and nearly 15% in the past seven days. The token is also down more than 70% from its all-time high of $2.92, which it reached last December.
The host of InvestAnswers warns that he does not offer financial advice, but says the $0.60 is a “pretty solid” historical support level for Polygon. He also notes that $0.65 to $0.66 represents a “killer entry” for the altcoin.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Featured Image: Shutterstock/JLStock/Voar CC