A popular crypto analyst thinks one layer-2 project could take out Polygon (MATIC) and become the dominant Ethereum (ETH) scaling solution.
The semi-anonymous host of InvestAnswers known as “James” says Arbitrum will dominate the scaling market in a new video appearance on Crypto Banter, a YouTube channel with 599,000 subscribers.
“I always thought number four best platform, which is layer-1-related, was MATIC, but now with things like Arbitrum and Optimism coming, it has changed the whole game. So I think there is a MATIC-killer, and it goes by the name of Arbitrum especially when you look at metrics like TVL and adoption, it’s going bombastic and they don’t even have a token yet…
Arbitrum is virtual machine architecture… it’s like Polygon, so that’s why I think Arbitrum has legs to be a Polygon killer.”
TVL stands for total value locked. The TVL of a blockchain represents the total capital held within its smart contracts, and it is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
Arbitrum went from zero TVL in August 2021 to approximately $1.22 billion at time of writing, according to the decentralized finance data tracker DeFi Llama.
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