One factor that Solana, Aptos, and Avalanche have in widespread is their declare that they’re the “Ethereum Killers”. The market believed these claims through the preliminary days of crypto. However the macro bear market of 2022 has eliminated any weight from these claims. Solana, Aptos, and Avalanche – all three cryptos have gone by means of large correction. And whereas Ethereum itself will not be at an excellent place trades, it nonetheless is much bigger in comparison with these three tokens.

Such statements had been echoed by Sandeep Nailwal, CEO of Polygon, who mentioned in his interview with Crypto Banter {that a} “layer-2 setting” is nothing greater than a pipedream. He believes that there’ll solely be a layer-1 – Ethereum on high of which layer-2 developments will happen.

When Crypto Banter requested if which means cryptos like Solana, Aptos, and Avalanche will lose their relevance over time, Sandeep replied,

“Yeah, Yeah. When you see even now, everyone’s [been] there for the final two years, and I don’t see any vital traction on any of those chains.”

Sandeep is extraordinarily bullish on Ethereum as he added that there isn’t a cryptocurrency that has an opportunity to compete with the OG Ethereum, a crypto that made utility doable for cryptocurrencies.

Social Media Responses to Polygon Founder’s Phrases Aren’t Sort

Naturally, the social media response to Sandeep’s feedback has been lower than sort. His bullish stance towards Solana particularly brought on many woes to social media customers who jokingly mentioned that “Pepsi’s Founder says Coca Cola has no future.”

Many claimed that Sandeep’s feedback had been bitter and biased and had been executed in an effort to go away different initiatives and be a part of Polygon. And since most Reddit feedback are hardly civil, there have been those that weren’t afraid to say that Sandeep’s phrases reeked of insecurity.

Nevertheless, there have been those that agreed with Sandeep’s assertion and mentioned that he has a practical evaluation of what’s presently occurring out there.

That mentioned, this assertion comes after the current layoffs throughout which Polygon has eliminated 20% of its workers.

These Varieties of Statements Aren’t Good for MATIC – Neighborhood Says

The group has no love misplaced for the MATIC venture, which has been on the forefront of a number of decentralized purposes and lots of utilities within the cryptocurrency house. However that group isn’t blind to the assertion that Sandeep has not too long ago made.

One Reddit person that goes by Mr. OrdinaryBoy commented –

I’m not a fan of this. When your product supplies worth that different initiatives dont, then you definitely dont want to speak shit about different initiatives.

Any such speech can be not good for MATIC, because it attracts undesirable und pointless attentions, esp from ppl with unhealthy intentions. We’ve seen how LUNA was crushed after Do Kwon talked shit on a regular basis about different initiatives in interviews.

Polygon has solely 100 validators on the time of writing, which many says provides to the “centralized” side of this blockchain. The group’s response to the CEO’s phrases exhibits that the group desires the cryptocurrency house to work collectively wherein there shouldn’t be a query about “either-or”.

All initiatives should work collectively. And contemplating the attempting situation Polygon is in proper now, it’s not smart for its founder to talk in poor health about different cryptocurrency initiatives.

Layoffs Resulting from Unhealthy Macroeconomic Situations Can Damage Polygon within the Lengthy Run

Whereas the market has proven some indicators of restoration this 12 months, the general sentiment is much from being bullish. Doubts towards the cryptocurrency market are nonetheless prevalent – and Bitcoin’s current failure to cross the $25k mark hasn’t helped the market both.

Seeing these bearish macroeconomic situations, Polygon has determined to put off 20% of its employees. The founder says that it’s a choice he has taken with a heavy coronary heart, and it was a mandatory transfer. He additional added that they’re working to crystallize the methods to extend the blockchain adoption charge within the close to future.

The Polygon value chart, nevertheless, tells a special story. The token has pulled again by 20% since final week – which is probably going because of the current feedback and the lay-offs.

This value chart is clearly a testomony to the truth that one should watch their tone when commenting about different cryptocurrency initiatives.

Polygon Options

The current downturn is nothing new for Polygon. There are developments within the background that may push the MATIC value up. Nevertheless, presale cryptos supply a significantly better funding choice for everybody concerned.

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2. Greatest Altcoins to Purchase

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