Billionaire Entrepreneur Mark Cuban Invests in Polygon,Driving it to Surge by 12645% on a Year-to-Date Basis

Mark Cuban, an American billionaire entrepreneur, expressed his support for the Polygon network.

Polygon’s official Twitter announced Wednesday that polygon had been successfully listed on the Mark Cuban Companies website as one of his holdings.

The announcement seems to endorse Mark Cuban's investment portfolio based on Polygon, a protocol that focused on Ethereum expansion and infrastructure development, strives to expand the adoption of its Layer 2 proof-of-stake sidechain platform.

Formerly known as MATIC, Polygon provides scalable, secure, and instant Ethereum transactions designed to use Plasma side chains and a Proof-of-Stake (PoS) network to solve the pain points of slow block confirmation and high gas fees, thereby simplifying the interaction between users and the decentralized world.

Polygon has been integrated with multiple Decentralized Finance (DeFi) and non-fungible token (NFT) related projects.

Mark Cuban also revealed that Polygon would also be integrated into Lazy.com, a Cuban portfolio platform focused on non-fungible tokens, to ensure a competitive advantage with faster transactions and lower fees to be maintained.

Polygon’s token MATIC recently surged by 2600% on a year-to-date basis as the adoption of Layer 2 accelerates before April 24.

With the endorsement of billionaire Mark Cuban, Matic has increased by 39.18% in the past 24 hours, according to Coinmarketcap. The MATIC token was trading at $2.27, with a total increase of 12,645% since the beginning of 2021 of around $0.01781.

Source:DEFI PULSE

According to DeFi Pulse data, Polygon itself ranks as the 4th largest DeFi protocol (previously ranked 17th), with a total locked value(TVL) of $7.127 billion, reaching its highest value of TVL.