Polygon Outperforms Bitcoin, Ethereum With 5% Gains Ahead Of zkEVM Launch: MATIC 'To Make New All Time High,' Says Analyst

Polygon MATIC/USD surged 5% in the last 24 hours, beating Bitcoin BTC/USD and Ethereum ETH/USD.

What Happened: The rally can be attributed to Polygon Labs saying that their highly anticipated zero-knowledge Ethereum Virtual Machine, or zkEVM, will be available for the public on Mar. 27, 2023. 

At the time of writing, MATIC was trading at $1.44.

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Pentoshi, the pseudonymous analyst, said that as we move closer to the Polygon event launch, he expects MATIC “to trade significantly higher than it is now.”

He believes that it is “a strong bear market coin and likely to make new all-time-high vs BTC in my opinion.”

Said this yesterday but this will prob be my main focus for trading for the next month. As I think as we go into the event launch it will probably be trading significantly higher than it is now

It's also been a strong bear market coin and likely to make new ath's vs BTC imo https://t.co/Z1ifXp2klZ

— Pentoshi (@Pentosh1) February 16, 2023

Price Action: At the time of writing, BTC was trading at $23,779.06, down 3.30%. ETH, at $1,664, was down 1.60% in the last 24 hours, according to Benzinga Pro data.

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