Polygon Outperforms BTC. ETH With 5% Gains

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.”

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

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.