Polygon (previously MATIC) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It aims to tackle the scaling issue of Ethereum by connecting various scaling solutions from side chains to Layer 2 options. Currently, they provide Matic POS and Matic Plasma chain as the two most used scaling solutions. It also provides a framework to let others build their own customizable scaling solutions as per the requirement. Hence, the polygon is now has expanded its scope to become an aggregator of these solutions which would eventually resolve scalability issues of ethereum (High Gas fees & Congestion).
In the past month Polygon(MATIC)'s price has seen a rise from $0.3562 to $1.7174. That's around 5x raise in one single month.
After the recent market crash, it has surged more than 100 % in 24 hours. I am not sure but many crypto experts are predicting the price to reach $10 by the end of this year. I think it can happen now because they have announced this a few hours ago:
Mark Cuban is known to be an Ethereum loverboy. It's no surprise that he has added Polygon to his portfolio since it's one of the major projects related to Ethereum which is going to solve a huge problem for the ecosystem. Mark has recently started investing in several crypto & blockchain-related projects. This news will definitely push Polygon's price a little further towards $10.
Did you buy Polygon during the dip? I got myself a few of them and now thinking to explore the staking opportunities to make more of them. I will keep buying them with every dip since I am very bullish on this coin.
Is it a good choice by Cuban? Do you think this news will have any effect on the rising price?
Comment below!