Sure Blog

Latest Events in the Crypto Industry

Mark Cuban Officially promotes polygon

Billionaire investor Mark Cuban has made an investment in Polygon, a layer 2 Ethereum scaling solution. It appeared on his company’s website which confirmed his investment in the project.

“I was a Polygon user and find myself using it more and more,” Cuban said in an email.

Cuban, who was once a polarizing figure in the cryptocurrency market, has become a more vocal supporter of the nascent asset class over the past year. Recently, when Elon Musk decided to stop accepting Bitcoin (BTC) due to environmental concerns, Cuban said his Dallas Mavericks would continue to accept the digital currency as payment.

Cuban has also acknowledged that cryptocurrencies are beginning to reflect real demand for their utility, arguing that the future of the industry remains bright. 

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.

Sources: Coindesk Cointelegraph