MATIC is a development project on Ethereum's L2 layer and was chosen by Ethereum as a solution when launching ETH 2.0
We are seeing a lot of tx being done on MATIC. I think MATIC's capitalization will increase even higher in the future when ETH 2.0 comes out.
The recent declines show MATIC's strength as it consistently bounced above the $2 level and failed to drop below $1.
Why ETH 2.0 would need polygon once it switches to 100% POS? I was thinking that by doing so Ethereum2.0 will enhance scalability and decrease fees and therefore there is a risk that polygon will loose its utility... I am a polygon holder by the way but I want to understand the future of polygon... Are you sure Ethereum has chosen polygon as a layer2 instead of its own?