Billionaires and Institutions Show Interest in This Altcoin: It Could Take Off!

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Famous investor Kevin O’Leary recently expressed his interest in altcoin project Polygon (MATIC) as an investment. The market value of Polygon Network is seeing an increase as it marks a significant milestone in the MATIC ecosystem powering 7,000 dApps.

Celebrities and institutional investors are interested in this altcoin project

Polygon has reached a significant milestone in its ecosystem, supporting more than 7,000 decentralized applications. This resulted in an increase in on-chain activity in the Polygon network, further raising the market capitalization. The Ethereum scaling solution now sits shoulder to shoulder with the meme coin Shiba Inu.

During the recent crypto bloodbath, major wallet investors have amassed $1.6 million worth of MATIC tokens. The accumulation fueled a bullish narrative for the Ethereum scaling solution. Kevin O’Leary, a renowned investor and entrepreneur, recently revealed his interest in MATIC:

What economic value do they create? In the case of Polygon, batch processing to reduce gas fees on Ethereum is a smart idea. You have an economic reason to pursue it. You save money. Transaction fees are less. I think the potential of this is huge.

Meanwhile, VanEck, a financial institution with $82 billion in assets under its management, has launched a multi-cryptocurrency fund with seven cryptocurrencies. Besides MATIC, the fund includes Bitcoin, Ethereum, Polkadot, Solana, Tron and Avalanche.

Analysts, evaluating the altcoin price trend, predict that the uptrend will continue. A crypto analyst and trader nicknamed WalterCripto believes that the MATIC price trend shows short-term bullish momentum.