Amid a 60% price increase: ETH whales added Polygon (MATIC).
Amid a 60% price increase in the previous week,
ETH whales added Polygon (MATIC).
After experiencing a significant decline over the previous month, the global cryptocurrency market is now showing signs of widespread recovery. This has caused the Polygon (MATIC) token to see a tremendous increase of 60% during the last week.
However, despite this price increase, the biggest Ethereum (ETH) whale wallets have been acquiring the MATIC token.
60 million MATIC coins are added by ETH whales
The biggest ETH whales added in the last 48 hours have bought Polygon tokens worth over $36 million. The accumulation resulted in an increase of more than 60 million MATIC tokens.
The "BlueWhale0072" whale wallet account alone has made several purchases totaling $33.5 million in Polygon tokens. The biggest wallet accumulation transaction, however, cost $7.3 million. As a result, the MATIC token has become one of the most widely purchased tokens by ETH whales during the previous 24 hours.
Whales are storing Polygon tokens worth $77 million.
Further investigation reveals that the Polygon token is among the top 10 coins used by whales in terms of trade volume.The leading ETH wallets have included MATIC to their list of the most popular smart contracts. The top 100 Ethereum whales collectively hold MATIC tokens valued at nearly $77 million.
Prices for Polygon had slight decline following a significant recovery. In the past day, MATIC prices have decreased by about 2.2%. As of the time of publication, it is trading for an average price of $0.58. Its current trade price is still 77 percent below its YTD price.
According to a recent Polygon release, Coinbase is now accepting deposits and withdrawals on their mainnet. Now, a user can send and receive messages to Polygon PoS directly. Customers will find it simpler to u matic-network-matic-prices-usd se Dapps on the network in a seamless manner as a result. The Polygon has advanced significantly as the first network to start on Coinbase with its PoS.
