Nubank Effect Helps Polygon’s MATIC Surge

Due to a combination of exceptionally optimistic fundamental and technical signs of Nubank, the price of Polygon’s MATIC might quadruple by the end of 2022 or early 2023.
Nubank Effect Helps Polygon's MATIC Surge

MATIC jumped over 6.5% four days after Nubank, a Brazilian fintech business funded by Warren Buffett’s Berkshire Hathaway and Softbank, said that it had chosen Polygon’s Supernets technology for its blockchain and digital token, named Nucoin.

As a result of the rise, MATIC was trading at $0.9 on October 24, its highest level in three weeks.

Nubank Effect Helps Polygon's MATIC Surge
MATIC daily chart. Source: CoinCu

Polygon Supernets is an enterprise-level solution that simplifies blockchain development for businesses wishing to establish their own chains. Interestingly, prior to Nubank, GameSwift used the software to establish its own blockchain.

Polygon’s native token, MATIC, which acts as a utility and staking asset within the Polygon blockchain environment, may see a similar surge in demand.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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