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    Polygon v Chainlink – Which one is a better buy?

    The Ethereum merge gives Polygon an edge in the short term. 

    Key Points:

    • With the Ethereum merge close, MATIC has the potential to grow exponentially once the bull market returns.

    • Chainlink’s dominance in the decentralized oracles space gives it strong long-term growth prospects.

    • While both LINK and MATIC are likely to do well long term, MATIC is likely to outperform LINK short term.

    Polygon (MATIC)

    Polygon is an Ethereum scaling solution. It is the most robust of all the other Ethereum scaling solutions in the market today. Like the rest of the market, MATIC has been bearish for most of 2022. However, in terms of fundamentals, MATIC is one of the strongest cryptocurrencies today. This has a lot to do with its connection to Ethereum. Ethereum is in the final stages of a merge that will see it run entirely as a Proof-of-Stake blockchain. The merge will also see Ethereum rely heavily on layer-2 solutions like Polygon for scaling. This means demand for Polygon is set to go up over time. Factor in the fact that MATIC is deflationary, and it’s not hard to see why it’s one of the cryptocurrencies that could do well in the next bull run. 

    Chainlink (LINK)

    Chainlink is a decentralized oracle network. It is the most dominant in the decentralized oracles space and accounts for over 60% of this market. Chainlink, like other cryptocurrencies, has taken a beating in the 2022 bear run. LINK has fallen below $10 for the first time in a long time. However, given how critical decentralized oracles are in the market, the chances are that LINK will bounce back. In fact, when you go by the old investment mantras of sticking to the fundamentals, LINK is easily one of the best cryptocurrencies to buy today and hold for years. 

    Which one is a better buy?

    Both Polygon and Chainlink are top cryptocurrencies to buy and hold long-term. However, in the short to medium term, the odds favor MATIC outperforming LINK. Once the Ethereum merge happens, the polygon network could see a boost in usage. On top of that, MATIC is deflationary, a factor that will become even more important as network adoption grows.

    This post was originally published on this site

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