MATIC Price Rises After Mark Cuban's Investment In Polygon

American entrepreneur Mark CUBAN added MATIC to his portfolio, thus helping the Ethereum layer 2 scaling solution gain momentum. MATIC recently corrected the market more than 70% but has grown more than 190% since then. At the time of writing, MATIC is trading at $2.40.

Polygon, formerly the Matic Network, is now on everyone's lips. Unsurprisingly, the price of MATIC is up a whopping 11,891% year to date, according to Messari data. Polygon primarily provides scalability solutions that are already widely used, with metrics such as 250 dApps, 76 mln transactions, and 790,000 unique users.

Several well-known DeFi platforms such as Curve Finance, Aave and mStable have been launched on the network to be able to offer faster and cheaper DeFi products. Gas prices are now slightly lower than before. However, according to Etherscan, the average token swap commission on Uniswap is around $20. Mark Cuban noted that he plans to integrate Polygon into Lazy.com, a portfolio company that enables people to easily display non-fungible tokens (NFTs) and personal galleries.

Image: Boxmining