Kevin O’Leary and VanEck show interest in Polygon’s MATIC while prices recover from crypto market downturn
- As Polygon notes a spike in activity, MATIC and Shiba Inu are neck and neck in market capitalization.
- Over 7000 dapps are now live on the MATIC network, as the Ethereum scaling solution hits a new milestone.
- In the recent market bloodbath, whales accumulated $1.6 million worth of MATIC tokens.
- VanEck launched its first multi-cryptocurrency fund, with seven cryptos including MATIC.
- Analysts are bullish on MATIC recovery, predicting a continuation of the Polygon uptrend.
Celebrity investor Kevin O’Leary recently expressed his interest in MATIC as an investment. There is a spike in Polygon Network’s market capitalization as it is a key milestone, powering 7000 dApps in the MATIC ecosystem.
Celebrity and institutional investors express interest in MATIC
MATIC hit an important milestone supporting over 7000 decentralized applications in its ecosystem. This fueled a spike in on-chain activity in the Polygon network, driving market capitalization higher. The Ethereum scaling solution is now neck to neck with memecoin Shiba Inu.
Dear @0xPolygon fam, it is my pleasure to inform you that our ecosystem grew from 3,000 to 7,000 apps in only 3 months!
— Mihailo Bjelic (@MihailoBjelic) January 27, 2022
What's even crazier is that we are really/honestly just getting started, both in terms of tech and adoption .
Let's bring the world to Ethereum! https://t.co/qBNqljD1wJ
During the recent crypto bloodbath, large wallet investors accumulated $1.6 million worth of MATIC tokens. The accumulation has fueled a bullish narrative for the Ethereum scaling solution. Kevin O’Leary, a celebrity investor and entrepreneur, recently revealed his interest in MATIC.
O’Leary was quoted as saying:
What economic value are they creating? In the case of Polygon, aggregating transactions to reduce gas fees on Ethereum is a smart idea. You have an economic reason to pursue that. You save money. Transaction fees are less. I think the potential of that is large.
VanEck, a financial institution with $82 billion worth of assets under management, has launched a multi-cryptocurrency fund with seven cryptos. Alongside MATIC, the fund includes Bitcoin, Ethereum, Polkadot, Solana, Tron and Avalanche.
Analysts have evaluated the MATIC price trend and predicted a continuation of the uptrend. @WalterCripto, a pseudonymous analyst and trader, believes that the MATIC price trend shows short-term bullish momentum.
$MATIC Midterm trend Analysis.https://t.co/V6ybUsK8W7
— Walter - TREND RIDER (@WalterCripto) January 27, 2022
FXStreet analysts believe that the MATIC relief rally could send the altcoin’s price to $2.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
