Should I Buy Polygon (MATIC) in 2021?
Source: @crypto-guides
There is a section in the "What is Polygon (MATIC) crypto? - Polygon Guide" titled "Should I buy Polygon (MATIC) in 2021?"; with this post I hope to contribute an item or two we don't usually hear about from both legacy media and even cryptocurrency-oriented media. Feel free to adjust as needed for Guide purposes.
Should I Buy Polygon (MATIC) in 2021?
Mark Cuban thinks you should
He says that
aside from Bitcoin and Ethereum, the Polygon network is “destroying everybody else.”
In his eyes, Bitcoin and Ethereum aren't going anywhere; also, out of the rest of the altcoins, Polygon will be the one to come out on top after things settle down while the crypto market shakes out.
More from Mark Cuban
On is web site, he describes Polygon as
the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.
That usability can explain the buzz and recognition earned by Polygon.
Crypto RobinHood
Polygon was used to make the mobile app SmartDefi, which bills itself as "the RobinHood of crypto". RobinHood had a breakout year last year when retail investing in stocks went through the roof due to the kind of year 2020 was.
Acceptance is accelerating
Although Polygon isn't the biggest of the scaling solutions to Ethereum, its acceptance among DeFi protocols is growing. Additionally, Polygon has been added to BITX, the Bitwise 10 Large Cap Crypto Index with a weight of 1.03%.
MATIC Gained as BTC Fell
As Bitcoin goes, so go the altcoins. When BTC gains big, altcoins win too. When BTC falls, altcoins drop in price. Normally that's the case.
However, according to a 5 June 2021 article at CoinDesk, the MATIC token associated with Polygon had a 120% monthly gain during the time BTC was falling. The article goes on to say that the monthly gain by MATIC proves that a cryptocurrency that is becoming more widely used can hold its own during an overall market sell-off.
Recommendation
While his current noteriety is due to his friendly spats with fellow USD billionaire Elon Musk regarding Bitcoin and Dogecoin, Mark Cuban is placing his money where his mouth is and investing in Polygon and its MATIC token.
Mobile app SmartDeFi wants to do for cryptocurrencies what RobinHood did for stocks in 2020, which saw trendous growth in retail investors. Smart Defi chose Polygon as its network of choice.
Other DeFi protocols are accepting Polygon, and cryptocurrency indexes are including Polygon as an asset worth tracking.
Thanks to is increase in usage by protocols, developers, and networks, Polygon was able to do something most altcoins rarely if ever do: Gain while Bitcoin fell.
As a sidechain of Ethereum which aims to alleviate the high gas fees and congestion experienced natively by Ethereum, Polygon is fast becoming the solution of choice.
Just as Ethereum is a buy like Bitcoin, Polygon is a buy.
Posted Using LeoFinance Beta
