DeFi -Decentralized Finance on dark blue abstract polygonal background. Concept of blockchain, decentralized financial system
- Bloomberg recognizes Polygon Blockchain as the outstanding technology that it is.
- Bloomberg also predicts Ethereum outperforming Bitcoin in the long term.
Polygon is a blockchain that has stamped its mark in the industry. Bloomberg, according to its most recent report, is recognizing Polygon for its noteworthy growth and increased adoption so far.
Mike McGlone, the Senior Macro Strategist at Bloomberg, posted a recent report that goes over Polygon’s notable performance in the last few years.
Polygon has been recognized by Bloomberg, for its ability to scale a variety of decentralized applications. Polygon has surpassed its long-standing rival Ethereum, to host most dApps this year. Bloomberg reported.
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.
Bloomberg also recognizes that the Polygon Network has more developers than other Layer 1 alternative like Avalanche and Fantom.
Polygon is often making headlines, for its many partnerships with some of the most valuable traditional Fintech companies in the world, and Bloomberg is rightfully recognizing this.
In January, MasterCard tapped Polygon to launch artists into the web3 ecosystem through an artist accelerator program. Polygon has partnered with Starbucks, Nubank, Adobe, Adidas, Prada and many other global brands in recent times.
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; Ethereum will overthrow Bitcoin
Bloomberg is also predicting that there will be higher asset prices and higher volatility. This will then result in cryptocurrencies facing their first real recession.
The inception of Bitcoin came during the last economic recession in the United States. Bloomberg is of the opinion that a similar milestone will be experienced, as the economy takes another turn. However, there is no telling how much loss would be recorded in the market before gains are sustained in the future.
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Bloomberg perceives a resting bull market between Ethereum and Bitcoin, which it refers to as digital gold. According to Bloomberg‘s galaxy crypto index, there has been a steady Ethereum/Bitcoin rate since the 2021 peak.
This is suggesting that digital assets are moving towards a mainstream strong audience. Once “the dust settles from some revision in risk assets“, Bloomberg is certain that Ethereum is going to outperform Bitcoin.
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