Polygon (MATIC) has been one of the top performers in the crypto space in the last few weeks. The Ethereum scaling solution is becoming increasingly popular in the developer community, and now the billionaire star investor Mark Cuban has announced his investment in the project.
The addition of Polygon to the company’s portfolio appears to have only recently occurred and shows that institutional investors continue to invest in the crypto space despite the crash.
Cuban is a startup investor, owner of the NBA team Dallas Mavericks, and one of the most important “Shark” investors in the reality TV show Shark Tank. Forbes estimates that Cuban currently has a net worth in excess of $ 4.4 billion.
The American was once a polarizing person in the crypto world, but that has now changed. Since last year, Cuban has grown into a vocal supporter of digital assets. Recently, when Elon Musk decided to stop accepting Bitcoin (BTC) due to environmental concerns, Cuban opposed it. He said his Dallas Mavericks would continue to accept digital currency as payment because they knew Bitcoin could help the environment in the long term.
That Mark Cuban is now using the Ethereum scaling solution Polygon is hardly surprising. In the past, the star investor has a positive effect on Decentralized Finance (DeFi) expressed. According to his own information, he even holds some tokens from the two DeFi projects Aave (AAVE) and SushiSwap (SUSHI). Precisely these two projects were also among the best-known DeFi projects that have already integrated Polygon’s scaling solution into their protocols. Both projects are therefore significantly involved in the fact that Polygon has grown so much in the last few weeks. Aave alone has over $ 6.6 billion on Polygon’s sidechain. In addition, SushiSwap was able to raise over 750 million US dollars to bring liquidity to Polygon.
MATIC now has a market capitalization of almost 14 billion US dollars, the cryptocurrency has risen by over 12,000 percent since the beginning of the year, and the price has increased by around 48 percent in the last 24 hours alone.
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