Mark Cuban Believes Polygon and ETH Can Outperform BTC2 min read
The flow of institutional capital to altcoins continues to increase as interest in cryptocurrencies also gains momentum. Specialists and major investors have sought, among cryptocurrencies, those that can surprise and present not only an appreciation, but a proposal for growth and social change.
For crypto billionaire Mark Cuban, Polygon (MATIC) is one such coin alongside Ethereum (ETH). Both, he says, have the potential to outperform BTC.
Cuban said he prefers ETH, and its scaling solution, arguing that BTC is not an ideal store of value.
Regarding MATIC, the entrepreneur noted that the cryptocurrency has been registering an increase in the inflow of institutional capital since 2021.
Brett Harrison, president of FTX.US, agrees with Mark Cuban. For him, ecosystems based on Proof-of-Stake (PoS) will dominate the market.
Harrison believes that altcoin prices could go higher as BTC’s dominance wanes. In addition, both the president of FTX and Cuban highlighted that they are accumulating a lot of MATIC and ETH.
Despite this optimism, it is worth noting that scalability and congestion issues continue to plague the blockchain of the two cryptocurrencies.
Regarding the price of Polygon in particular, which has recently declined in value, analysts are not optimistic in the short term.
The analyst known as AltcoinSherpa, for example, believes that the MATIC price, in the short term, can only reverse its downtrend if it stays above the 200-day simple moving average.
FXStreet analysts believe that the price of MATIC could drop another 15%. This drop, according to them, would be the result of geopolitical problems, which can affect all cryptocurrencies.