Famous Bank Chose This Altcoin! “The Price Could Explode”

An altcoin project of a leading Latin American bank, backed by Warren Buffett, is flying. This momentum could help it return to the middle of the top 10 cryptocurrencies again.

Warren Buffett indirectly invests in this altcoin project

Polygon (MATIC) gained nearly 6.5% four days after Hathaway, of which Warren Buffett is the largest shareholder, and Nubank, backed by Tokyo-based public telecommunications firm Softbank. Nubank has confirmed that Polygon has chosen “Supernet technology” for its upcoming Nucoin. The official announcement included the following terms:

Nubank is launching its own Blockchain using PolygonSupernets in a strategic subsidiary with Polygon. Thus, its own cryptocurrency will be ready in Nucoin. This attack will open a gateway to the Web3 domain for over 70 million Nubank users.

MATIC hits three-week high

MATIC reached the $0.90 region as a result of the rally. Thus, it was one step closer to Dogecoin to return in the middle of the top 10 cryptocurrencies. The difference in the middle at the time of writing is about $75 million.

Polygon Supernets is an enterprise-grade solution that takes the complexity out of Blockchain development for companies looking to build local chains. Interestingly, before Nubank, the game company chose Polygon in GameSwift. Increasing demand for Polygon artifacts means higher levels for the MATIC price.

Altcoin draws a bull flag formation with 100% profit motive

Nubank news helps MATIC plot a chart that looks like a bullish pattern. Koindeks.comAs we reported, legendary investor Warren Buffett recently invested $500 million in Brazilian digital bank Nubank.

The so-called “bullish flag” occurs when price converges in a parallel, descending channel following a strong upper-truth move. As a rule, it dissolves after the price moves out of the range. It rises at the same time as the height of the previous uptrend.

Therefore, MATIC breaking above the flag’s upper trendline will help it test $1.85 as the main upside objective. In other words, it represents a 100% price increase at the end of 2022 or the beginning of 2023. On the contrary, a retracement of the flag from the upper trendline will lead truth to the lower trendline around $0.67.

However, despite attempts to rekindle interest in Polygon’s NFTs, results so far have been disappointing. According to DappRadar information, Polygon NFT collections, recognized for volume by Aavegotchi, lost 46.42% in value. Its sales also fell 32%.

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