Polygon is undervalued and underperform cryptocurrency

Polygon has Polygon PoS Chain and Polygon zkEVM. Polygon PoS is Ethereum sidechain. While, Polygon zkEVM is a layer 2 solution, EVM-compatible that support smart contracts and dApps.

Polygon currently ranks 14^th largest cryptocurrency by market cap. It has market cap of $9.618 billion and fully diluted market cap of $9.976 billion.

The reason MATIC price is sideway is because total value locked of both Polygon PoS and Polygon zkEVM don’t grow.

Polygon PoS currently has $972 million TVL and Polygon zkEVM has $14 million TVL. Polygon is 5^th most widely used blockchain for NFTs.

Polygon CDK is growing.

Polygon CDK is a modular blockchain development kit that allow developers to launch their own zkEVM chains.

Polygon CDK is a modular blockchain development kit because it allows developers to add Celestia’s data availability plug-in. Celestia’s DA can help CDK chains reduce transaction fees.

Now the number of Polygon CDK chains are growing. And the number of TVL within the Polygon CDK chains are growing as well.

Layer 2 chains that powered by Polygon CDK including Immutable zkEVM, Manta Pacific, Astar Network, and X1 from OKX. These Polygon CDK chains are interoperable with one another.

Polygon zkEVM and Polygon CDK are one of the best layer 2 technology because ZK rollups rely on mathematical security.

POL token.

Polygon will migrate its native token from MATIC to POL. Users can swap MATIC for POL when Polygon launches POL.

MATIC is designed to use for staking and paying transaction fees on Polygon PoS. But POL designed to use for staking and paying transaction fees on all Polygon chains.

Not only POL can provide security on multiple chains but POL can also use for providing data availability.

MATIC is immutable token. While, POL is mutable token.

In conclusion, Polygon can have valuation similar to Avalanche in either market cap or fully diluted market cap.

Avalanche currently has $13.8 billion market cap and $26.3 billion fully diluted market cap. Polygon can either have $13.8 billion market cap or $26.3 billion fully diluted market cap.