Mark Cuban discloses investment in Matic
As each day ticks on I find the key to success in cryptocurrancy isn't so much about picking the right project but more about finding the emerging trends. By emerging trends I mean where all the alpha whales are dumping their 10c. Then it's about timing, when to pull out before they do.
It's significantly hard to pick and by the time you see it it's already on the run. I guess that's why diversifying a portfolio is important. It ensure that when an alpha whale comes along you're in on it.
It makes me wonder why Hive hasn't been subjected to such things. Do people look into things before they start buying? Surely a fully functioning block chain with a use case and a website implementation would be high on the agenda.
I have to admit Matic's growth was anticipated and I had a previous blog post that spoke to layer 2 initiatives being the future investment of Block Chain tech. It's what drove me to Polkadot.
I did stumble across Matic quite some time ago and it has taught me a valuable lesson. Don't wait, invest when low. I was of the impression that there was still plenty of time. The token had not peaked or drew much attention.
With BETH, Ethereum 2.0 roll out many had been hoping that it will reduce transaction fees. So Matic wasn't too high on my priority and I focused on my favourite Hive Block Chain advancing in Hive, Leo and CUB.
Matic is a really important token in the Defi world. Defi which started on Ethereum block chain has been an international success drawing rallies across the sector. Except one thing, staking, harvesting and yield farming is expensive resulting in a high proportion of fees being paid.
Binance stepped up and took in alot of the outflow from Ethereum but a significant portion of investors have remained due to the price booms of Ethereum tokens.
Matic being a layer 2 Ethereum block chain is providing Ethereum investors the ability to remain on Ethereum from a fraction of the cost.
Naturally people have been going across in vast numbers and with the most recent market dip Matic turned green. Also important to note, NO matic DEX failed where many others did.
It's been that warmly welcomed by the community that Slingshot decided to launch on Matic and not Ethereum with significant success.
The Layer 2 project provides users the continued ability to access Ethereum but for less than a fraction. 1 Matic will provide something like a few thousand transactions.
High transaction fees seem to have been the main driver of token price. Makes sense, more of a token you are forced to spend the more buy pressure and the higher the price.
It makes you a little cautious as without a similar buy pressure what will drive Matics price?
That's an easy solution one I think we will see develop on the Matic mainnet. Staking. Buy pressure is created by a use case and Ethereum and other tokens don't really have one outside of fees. Ethereums price exploded when it was needed to stake into BETH. Showing that use out performs fees.
Staking Ethereum netted users BETH and building on the success of Staking rewards I think we will see Matic perform. After all the Matic network is pretty much a defi network.
I'm buying a few here and there in preparation for major roll outs where I will be able to participate in the network and beat the price hikes.
My guesstimate is that the first Matic price point is $50, just not sure when.
It's also been rumoured that Lazy a Mark Cuban run NFT website is planning on implementing Matic into his network. A welcomes use case and one to increase its public awareness.
Egypt rolls out Matic network
What's important to note is that Egypt is utilising block chain tech to secure its logistics network and has selected Cargo X as the block chain to do it. Cargo X utilises the Matic network so we're seeing real world applications across the globe.
The work progressing in this block chain has also seen Mark Cuban add it to his Mark Cuban Companies website along other holdings.
You can see the full list of Mark Cuban Companies holdings Here an interesting turn in investments and it appears that block chain tech is really starting to advance to a stage of wide spread adoption and a cleaner more professional future.
With growing mainstream investors it is only a matter of time before the industry starts to create a product that meets the needs of investors, achieves real world use and advances the human race.
The sooner we move away from dodgy operators, honey pot scams and pump and Dumps the better the network will be and the sooner we can see what benefits to our globe block chains can create.
I personally think it is an advancement of the internet which worked by plugging each computer into each other to remain connected. Posing significant safety risks to hackers and malicious networks.
Now we have a system that allows us to remain connected but separated through blocks, chains and hash rates that secure a connected network.
Just like many couldn't see the benefits of the internet the same is occurring now. The interesting aspect is that in its development, instead of centralising control it was decided that people would be paid for their work and that work is open to anyone.
It is a democratic socialist dream in some regard if we minus the free market aspect which opens it upto pump and Dumps.
But we have a service that allows people to control the means of production by running nodes, they receive payment in the native currency which also provides them with the right to vote and have a say.
It is very much in it's infancy and alot needs to be ironed out but it is amazing. This democratic socialist system is beginning to rise on its own accord.
Posted Using LeoFinance Beta