Written by Robert Thompson III | 5/26/2021
Should you invest in Polygon(Matic)? Polygon is a layer 2 Ethereum scaling solution that helps bring down gas fees. When Ethereum 2.0 comes out will polygon be able to upgrade its services? We think Polygon is a great choice and should be highly used right now.
This article provides information and education for investors. FeedYourEmpire does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.
Mark Cuban adds Ethereum and matic to his portfolio
Billionaire investor Mark Cuban has made an investment in Polygon, a layer 2 Ethereum scaling solution. Although, Cuban confirmed the investment in an email to CoinDesk but would not disclose its size or composition. Surprisingly, the price of MATIC, the native token of Polygon, is up more than 9,535% year to date, according to Messari. With decentralized finance (Defi) and other projects going live on Polygon, users have increasingly turned to the platform to escape the high transaction fees of the Ethereum mainnet. “I was a Polygon user and find myself using it more and more,” Cuban said in an email. He said he’s also integrating it into Lazy.com. It’s a Cuban portfolio company that allows people to easily display non-fungible tokens (NFTs).
“We have spoken to many investors but the discussion with Mark Cuban was truly mind-blowing”. Polygon co-founder Sandeep Nailwal told CoinDesk via Telegram. By investing in Polygon, Cuban has expanded the crypto-based companies in his investment portfolio. And reaffirmed his bullish stance on crypto. He has previously invested in various platforms like OpenSea, Lazy, and Mintable that allow users to showcase and trade NFTs. Cuban has also publicly supported investing in cryptocurrencies. And allows them as payment methods for tickets and merchandise of his basketball team The Dallas Mavericks. He has especially encouraged his followers to invest in dogecoin and has said he believes in the meme crypto. He also says it’s a good way to learn about money.
Dogecoin Subreddit reaches 2 Million ‘Subshibers’ After Elon Musk’s Call For Help
Elon Musk’s call for his social media following to submit ideas for the development of the meme cryptocurrency Dogecoin (DOGE) has received an overwhelming response on Reddit. Although Elon Musk has been quite open about his fondness for cryptocurrency in the past, it was only up until recently that the Tesla CEO has expressed his thoughts on $DOGE and $BTC. Elon Musk’s fondness of Dogecoin goes way back and the popularity of this cryptocurrency is getting bigger and bigger. Just recently, a lot of market fluctuation has been happening mostly due to two large events. One of the events is where Elon Musk suddenly announced that Tesla won’t be accepting Bitcoin payments due to “environmental” issues when it comes to mining.
The CEO then clarified later on that he was not selling any of his Bitcoin holdings but rather just stopped receiving them. Moreover, the r/dogecoin community on Reddit now has 2 million “subshibers,” up from almost 1.4 million subscribers in mid-April. The r/Dogecoin community talks about Dogecoin and everything $DOGE which can help novice traders know more about the coin that they are getting into. Although the purpose of Dogecoin was actually to make fun of cryptocurrency in general, the coin has still been raking in massive growth. Fans of Dogecoin call themselves subshibers on Reddit, as a replacement for the more usual word subscribers. Musk had asked his followers to help support the Shiba Inu-themed cryptocurrency by submitting ideas on GitHub and Reddit.
Conclusion
Polygon(Matic) can be improved because it can make improvements on its platform. To make it better than what it is now. We can see polygon having a bull run of $20-$30 dollars especially with big investors like mark Cuban now in the coin. Now there will be a lot more people going into polygon since Cuban is in it. Until Cardano gets back up and running, polygon is going to see a lot more growth. Don’t forget to follow Crypto empire tv because it gives up to date information on finance and crypto
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