Nubank Effect Helps Polygon’s MATIC Surge

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 3

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.

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.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.