Watch today’s  video (11 mins) analyzing the chart and price prediction for Polygon (MATIC) after huge news.

Polygon raised $450M from 40 VCs – big names in crypto and outside of crypto including Sequoia, Galaxy, Softbank, Tiger Global, Union Square.

At least $100M would go to its ecosystem fund.

What’s also very notable is that this investment was in form of tokens not equity. So these VCs are betting that their investment will increase the value of the tokens multiple times over the next few years!!

Our technical analysis (see Curated Charts or watch video) suggests that the price could appreciate by 50% this year, at least, getting back to its ATH ~ $3.00

Polygon is an Ethereum Scaling solution.  It leverages Ethereum but makes transaction faster and cheaper so that applications that use Polygon can be compatible with Ethereum DeFi ecosystem but not suffer from slow transaction times and especially high transaction costs.

Polygon wants to build the infrastructure and tools for app developers, analogous to a decentralized version of Amazon Web Services (AWS). It’s part of a movement in crypto known as “Web 3.0”

What’s Web 3.0? basically take today’s online applications – social media, e-commerce, etc. and migrate them onto blockchain, so everything is far more transparent, open-sourced, easier to integrate with other services, but also built such that the user communities are more fairly rewarded for using the apps.