Is $MATIC underpriced?

While $OP and $ARB have experienced a growth in the past 12 months, MATIC has failed to follow the same trend.

Tokens Price at 30/01/2023

Arbitrum - $1.1822 (launched on 23/03/2023)
Optimism - $2.1692
Matic - $1.0873

Tokens Price at 30/01/2024

Arbitrum - $1.8744
Optimism - $3.109
Matic - $0.7892

Among the top3 Ethereum L2 MATIC is the only one who's experienced a decline.

The arrival of the Spot ETF on ETH, likely to be finalized in May, and the reduction of fees with the Dencun update could favor Vitalik Buterin's Layer 1, which has appeared subdued this year. According to many analysts, Ethereum is on the verge of exploding and could outperform Bitcoin in 2024.

The Ethereum explosion and the upcoming Bull Run could create a shockwave that will also affect Layer 2, which has a special connection with Ethereum as they support its blockchain operation.

In addition to this, there is the interest brought by modular blockchains like Celestia, providing tailor-made and easy-to-configure solutions—a boon for those wanting to develop a Layer 2 compatible with Ethereum, especially with the Ethereum Virtual Machine (EVM).

For all of the above reasons I strongly believe MATIC be heading to a potential 100% increase in the medium-term (by end of 2024).

Do you agree? #Write2Earn #MATIC #layer2