The billionaire investor Mark Cuban has now revealed to officially support Polygon crypto. Mark Cuban Companies website has issued a disclosure which revealed that the billionaire is backing the cryptocurrency. Since being a critic in the bull of 2017, Mark Cuban has come a long way and now is an avid supporter of the cryptocurrency and blockchain sphere. The investor thinks the technology possesses a lot of potentials and says the future of the industry is bright.
Polygon (MATIC) rose to popularity in the bull run of 2021 as did a lot of otherwise unknown cryptocurrencies. Some of the cryptocurrencies stole the limelight because of their return on investment while others because of their technology and offering. Polygon is the latter of the two. The cryptocurrency quickly rose through the ranks and now stands at the thirteenth in the market in terms of capitalization.
The project is one of the first ones from India. India had been not as active in the cryptocurrency sphere because of the Reserve Bank of India’s rigid yet confused stance on cryptocurrencies. India is considered one of the most powerful developing economies and its absence from the crypto sphere had been taken note of. A development team from India originated the Polygon network and it did not disappoint.
Polygon is a layer-1 scaling solution designed to enhance the capabilities and efficiency of the Ethereum network. The multi-chain scaling solution has been tackling the problems that layer-1 and layer-2 solutions had been facing well. The user base of the cryptocurrency had been recorded to grow at an unprecedented pace.
At the time of writing, MATIC stands at a price level of $2.24. The price of cryptocurrency has climbed up by 30% in the past twenty-four hours. The daily trading volume is also on the rise