Warren Buffett-backed neobank picks Polygon for Web3 token — MATIC price eyes 100% rally

Polygon (MATIC) terms could treble by the extremity of 2022 oregon aboriginal 2023 owed to a premix of highly bullish cardinal and method indicators.

Polygon wins high-profile clients 

MATIC roseate by astir 6.5% 4 days aft Nubank, a Brazilian fintech institution backed by Warren Buffett's Berkshire Hathaway and Softbank, confirmed that it selected Polygon's "Supernets technology" for its blockchain and integer token dubbed Nucoin.

"Nubank plans to airdrop the integer token to its customers successful the archetypal fractional of 2023," the authoritative announcement read, adding:

"These tokens volition beryllium the ground for its customers' loyalty rewards programme and volition person benefits specified arsenic discounts and different advantages."— Polygon - MATIC (@0xPolygon) October 19, 2022

As a effect of the rally, MATIC was changing hands for $0.90 connected Oct. 24, its highest level successful 3 weeks.

Polygon Supernets is an enterprise-level solution that removes the complexity of blockchain improvement for companies looking to physique their autochthonal chains. Interestingly, earlier Nubank, gaming institution GameSwift employed the merchandise to motorboat its customized blockchain.

The increasing request for Polygon products whitethorn bring a akin roar for its autochthonal token MATIC, which serves arsenic a inferior and staking plus wrong the Polygon blockchain ecosystem.

MATIC eyes bull emblem breakout

The Nubank quality surfaces arsenic MATIC paints what appears to beryllium a bullish continuation signifier connected its lower-timeframe chart.

Dubbed "bull flag," the signifier emerges erstwhile the terms consolidates wrong a parallel, descending transmission aft a beardown determination upward. As a rule, it resolves aft the terms breaks retired of the scope to the upside and rises by arsenic overmuch arsenic the erstwhile uptrend's height.

MATIC/USD three-day illustration featuring bull emblem breakout setup. Source: TradingView

Therefore, MATIC's breakout supra the flag's precocious trendline could person it trial $1.85 arsenic its superior upside target. In different words, a 100% terms rally by the extremity of 2022 oregon astatine the opening of 2023.

Related: 3 reasons wherefore DeFi investors should ever look earlier leaping

Conversely, a pullback from the flag's precocious trendline could pb MATIC toward the little trendline adjacent $0.67.

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