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Popular Billionaire Stacking These 2 Altcoins Heavily!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Feb 19, 2022

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The American entrepreneur and billionaire Mark Cuban is bullish about MATIC and Ethereum. Cuban prefers Ethereum and its scaling solution to Bitcoin, claiming that the latter isn’t the best way to hold value.

Since 2021, institutional funding has poured into MATIC at a record pace. Brett Harrison, President of FTX.US, agrees with Mark Cuban and believes Ethereum and Proof-of-Stake (PoS) ecosystems are the way to go.

As for MATIC, the price has dropped to a crucial support level of $1.7, giving up most of its gains from more than a week ago, when it was trading at $2. As a result, the cryptocurrency finished the previous seven days in the red, down 10.7%.

As Bitcoin’s dominance grows, Harrison predicts altcoin prices will rise. MATIC’s usability encourages adoption and has attracted investors such as Cuban. Cuban is a well-known supporter of cryptocurrency, endorsing Dogecoin for its simplicity and utility and promoting it through his NBA franchise, the Dallas Mavericks.

Mark Cuban revealed that he has “a lot of MATIC and ETH” in his possession.Despite updates to the Ethereum network, scalability and congestion issues on the altcoin’s blockchain persist. MATIC provides a solution by increasing throughput and lowering transaction costs.

According to the billionaire, Polygon has done a decent job of alleviating the bottom layer’s massive gasoline price difficulties. He also expects Ethereum 2.0 to have an impact on reducing the enormous fees that are commonly charged on the chain.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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