Billionaire Mark Cuban Has Confirmed His Investment In The Polygon Crypto Project (Matic). “i’ve Been Using Polygon And Found Myself Using It More And More,” He Told Coindesk .
Polygon Scaling Solutions Have Gained Popularity Amid The High Fees Of The Ethereum Network. Cuban Announced That He Will Add Its Support To His Own Non-fungible Token (Nft) Tracking Platform, Lazy.com.
“we Spoke With A Lot Of Investors, But The Discussion With Mark Cuban Was Really Amazing,” Said Polygon Co-founder Sandeep Niallval.
Polygon Has Outperformed Most Other Assets In The Cryptocurrency Market Over The Past Week. In 30 Days, Its Price Has Risen By 500%, And Since The Beginning Of The Year, More Than 100 Times. With A Current Capitalization Of $ 14.4 Billion, Polygon Is The 12th Largest Asset In The Market. On May 19, The Price Of Matic Plummeted 62% Along With Other Cryptocurrencies, But Quickly Recovered.
Cuban Believes That The Real Demand For Their Practical Capabilities Is Beginning To Reflect In The Prices Of Digital Assets, Which Opens Up Great Prospects For Projects. “having Higher Bandwidth And Lower Fees Is No Longer Enough. There Must Be An Ongoing Network Effect And Significant Growth In The User Base. This Is A Challenge For Most Networks Of The First And Second Levels, Because, With A Few Exceptions, Marketing In The Cryptocurrency Universe Leaves Much To Be Desired, ”he Said.
According To A Recent Report By Dappradar, Polygon’s User Base Grew By 75,000 Wallets Over The Week, Reflecting Strong Demand For The Project’s Services. At The Same Time, The Platform’s Turnover Increased By Almost $ 1 Billion, And The Number Of Monitored Decentralized Applications – From 61 To 93. “it Is Critically Important That 46 Out Of 93 Decentralized Applications Belong To The Defi And Exchange Category,” Notes Dappradar.
At The End Of April, Polygon Was Supported By The Defi Protocol Mstable, And Later It Was Joined By The 1inch Decentralized Exchange Aggregator. Despite The Continued Growth Of Matic, Funding Rates In Its Market Remain Negative, Indicating The Predominance Of Borrowed Funds In Short Positions.
