I asked ChatGPT about Polygon [MATIC] price action, but it left me intrigued

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Disclaimer: The information provided does not constitute financial, investment, trading or other types of advice and is the opinion of the author only

ribbed [MATIC] It is one of the most popular cryptocurrencies in the world. At the time of publication, it has a market capitalization of over $10 billion, making it the ninth largest cryptocurrency by market cap.

It is a Layer 2 scaling solution for Ethereum [ETH], a goal that aims to address network scalability issues with a primary focus on the DeFi space. The blockchain recently stole the limelight after it launched the long-awaited zkEVM mainnet.

With Polygon continuing to rise above others in the DeFi space, ChatGPT had some insights into the future of Polygon, its place in the DeFi ecosystem, zkEVM, etc.

is reading ribbed [MATIC] predict the price 2023-24

ChatGPT is trusted by Polygon zkEVM

For the uninitiated, Polygon zkEVM is a zero-knowledge scaling solution equivalent to the Ethereum Virtual Machine. zkEVM takes advantage of ZK Proofs’ ability to reduce transaction fees and increase throughput while preserving the security of Ethereum. According to Polygon, zkEVM will play a major role in increasing the scalability of Ethereum over the coming years.

When I asked ChatGPT regarding its thoughts on zkEVM, the AI ​​bot quickly highlighted the standout features of the solution while also pointing out some key benefits. The bot also added that as L2 solutions continue to grow, it will be interesting to see how zkEVM competes with others.

Source: ChatGPT

In addition, when asked if zkEVM will have a broader impact on Polygon, ChatGPT responded with confidence, saying,

“Overall, I believe zkEVM has the potential to significantly improve the scalability, interoperability, and security of the Polygon network, which could help attract more users and use cases to the network and position it as a leading player in the DeFi ecosystem.”

zkEVM vs zkSync Era

while ribbed Launched its own ZK, it can’t become the first L2 expansion solution as the title is taken by zkSync. The solution went live just three days before Polygon zkEVM was released.

When asked which is better, ChatGPT was hesitant to give a quick response. The AI ​​bot stated that the choice between Polygon zkEVM and zkSync may depend on various factors, such as the developer’s familiarity with programming languages, specific use cases, and project goals.

Source: ChatGPT

Thoughts on Polygon’s competitor, Solana

Another major player in the DeFi space is Solana [SOL], which is also a direct competitor to Polygon. However, Solana’s reliability has always been in question as she has fallen victim to multiple outages over the years.

The most recent one occurred in February when the Solana network experienced a forking event that restricted users’ ability to carry out transactions. However, it was later fixed.

When asked if Solana could pose a threat to Polygon in the DeFi space, ChatGPT responded by highlighting Solana’s accomplishments and the potential for both networks to coexist to serve different use cases.

Source: ChatGPT

added,

“In conclusion, while Solana’s high scalability and throughput make it an attractive option for DeFi projects, it is difficult to say whether it poses a direct threat to Polygon.”

However, to get a better response from the AI ​​friend, I tried to re-educate it by “Jailbreaking”. It was interesting to see a different response from ChatGPT after it was broken. In the new reply, it was mentioned that Solana could become a major competitor to ribbed in the coming years.

Source: ChatGPT

Polygon and its future..

Apart from zkEVM, Polygon also has quite a few projects in the pipeline, which also have the potential to boost growth in the future. For example, Maiden polygon. It will be the first decentralized backlog to take advantage of proof of execution for simultaneous local transactions. Miden will allow anyone to execute a transaction and create a network STARK resistor.

However, ChatGPT’s knowledge of Maiden was not adequate. Therefore, her response when asked about Maiden’s possible influence on Polygon was not up to par.

Source: ChatGPT

ChatGPT predictions for MATIC

At the time of publication, the original Polygon code matic It’s down about 3% over the past 24 hours. encryption was commerce At $1.12. When asked about MATIC’s price action, the re-taught version of ChatGPT showed great confidence in MATIC and mentioned that it might turn bullish soon.

She reported that Polygon’s recent partnerships have already generated interest and excitement among investors and traders. This could be reflected on the MATIC chart in the coming days.

Source: ChatGPT

When I questioned the bot further, it gave me a number that seemed quite ambitious. According to the jailbroken AI bot, it expects MATIC to cross the $50 mark by the end of this year. To me, the prediction made by ChatGPT was far-fetched and unlikely to translate into reality.

However, he mentioned the volatile nature of the cryptocurrency market. Therefore, nothing can be predicted with complete certainty, and investors are best advised to do their own research.

Source: ChatGPT

with you 1,10,100 MATICs are worth today

A closer look at the MATIC daily chart

Contrary to ChatGPT’s predictions, things are not looking good for MATIC at the time of publication. Most of the market indicators were in favor of the bears and suggested a decline in the price. For example, MATIC’s Chaikin Money Flow (CMF) was well below the neutral mark of 0. The Relative Strength Index (RSI) also posted a slight decline, which was also a development in favor of the sellers.

According to the exponential moving average (EMA) bar, there has been a constant struggle between bulls and bears. Looking at the other indicators, it is likely that the bears will emerge victorious. Bollinger Bands suggested it maticThe price was entering a less volatile area, which reduces the chances of an unprecedented price hike in the near term.

Source: TradingView

Polygon vs DeFi, a match made in heaven?

like ribbed As the DeFi ecosystem continues to expand and grow, it can be said with certainty that the blockchain has a long way to go and many more milestones to achieve over the coming years.

So I thought to ask ChatGPT the most valuable question: Polygon and DeFi, is it a match made in heaven?

Source: ChatGPT

Without any difference, both versions of the AI ​​bot responded positively to the question. The re-educated version even drew comparisons to world-famous “DUOs” like Peanut Butter and Jelly or Batman and Robin, which was interesting to see.

Conclusion

ChatGPT chatting about Polygon and its presence in DeFi gave a clear indication that the chatbot AI was extremely confident in Polygon and its future. ChatGPT’s response to questions remained optimistic throughout the conversation, some even being overly ambitious.

However, given Polygon’s current state, only time will tell if ChatGPT’s predictions and views are reflected on paper.

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