The digital currency MATIC is one of the cryptocurrencies that have been strongly present in the last 30 days, as it recorded a 364% increase during this period.

The MATIC cryptocurrency is up 27.04% today making its move above $2.00 At the time of publishing this article, MATIC is trading at $2.18 with a market capitalization of $13.7 billion.

What is the reason for the rise of the digital currency MATIC in the last 24 hours?

The recent price hike comes at a time when billionaire Mark Cuban officially announced his support for the operation of the Indian MATIC blockchain.

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Mark Cuban, who has a net worth of $4.4 billion and invests heavily in the crypto and blockchain space, Polygon (MATIC) has become the latest addition to Mark Cuban’s investment portfolio.

The “MATIC” project builds second layer scaling solutions for Ethereum and was founded in 2017 by software engineers: Sandeep Nilevan Vijayanti Kanani and Onraj Arjun.

MATIC executives reported by statement next one:

We’ve talked to many investors, but the discussion with Mark Cuban was really amazing.

It was so amazing to know the nuances of industry, technology and adoption that we discovered after months of working, he was really thinking about these things and he had these questions.

Polygon – Ethereum Scale Infrastructure Provider:

As the Ethereum blockchain facilitates building a massive ecosystem of DApps, DEX, DeFi, smart contracts, NFTs, etc., it hosts a wide range of users.

Polygon provides an easy-to-use and well-organized interface for developing and scaling Ethereum infrastructure.

As a result, Polygon has been able to establish a strong presence, especially among Ethereum developers.

The Layer 2 Scale project solves one of Ethereum’s biggest problems, such as high transaction fees and network congestion.

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Thus, it helps many decentralized finance (DeFi) protocols to bypass the high transaction costs of the Ethereum network.

The best thing about Polygon is that since it solves the problems of high gas fees and slow speeds of the Ethereum blockchain, it does not compromise the security of Ethereum at all.

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With Mark Cuban joining the Polygon ecosystem, this Layer 2 protocol will gain broad access to the billionaire’s other businesses.

It is possible that Cuban, who owns the NBA’s Dallas Mavericks, will merge Polygon with Lazy.com.

This will allow users of the platform to easily view non-fungible tokens (NFTs).

Over the past month, MATIC’s price has increased nearly 5 times, posting returns of 400%. Last week, MATIC price touched an all-time high of $2.54.

The annual profit return for MATIC is 222 times.

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