In this article, we look at two projects that are backed by Coinbase Ventures and have had their tokens go up in price by over 1000% (vs USD) in the year-to-date (YTD) period.
Polygon ($MATIC)
According to the Polygon Litepaper, Polygon (formerly known as “Matic Network“) is “a protocol and framework for building and connecting Ethereum-compatible blockchain networks.”
$MATIC had its initial exchange offering on Binance Launchpad in April 2019.
It is backed by Coinbase Ventures and MIH Ventures.
According to data by CryptoCompare, Between 1 January 2021 and 31 March 2021, $MATIC went from $0.01782 to $0.3607, which means a gain of 1924.13% vs USD.
Arweave ($AR)
Here is how the people behind the Arweave project describe it:
“Arweave is a network that connects those with disk space to spare with those who need permanent data storage. This system offers unparalleled levels of data replication and security for users, as well as financial incentives for those storing data, without a middleman.
“Rather than operating as a traditional company or foundation, the Arweave network is fully decentralised, meaning that anyone can store data in the network or offer storage space, without there being a leader or centralised point of failure. Through decentralization, Arweave offers a new standard of data archiving and storage: one in which information is globally replicated on hundreds of machines, impervious to fire, flood, or intentional damage.“
Arweave’s backers include Coinbase Ventures, Multicoin Capital, Unioon Square Ventures, and Andreessen Horowitz (a16z).
According to data by CryptoCompare, Between 1 January 2021 and 31 March 2021, $AR went from $2.619 to $32.68, which means a gain of 1147.80% vs USD.
Featured Image by “Tama66” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
