One whale transferred 30,000,000 MATIC. MATIC valued Binance $34.3 million.
The whale address held 585k Ethereum, valued $921 million. At publishing, ETH averages $1577.
Over the last 30 days, the price of Polygon (MATIC) has soared by more over 43%. Positive attitudes toward the cryptocurrency sector are not the only factors that could be driving the MATIC price increase, though. According to on-chain data, this price increase may have been caused by a sizable whale transaction.
According to Santimet data, the biggest MATIC transfer thus far this year occurred on January 25. The recent 20% surge happened right before this exchange. It stated that on that particular day, 59 million MATIC, or almost $56 million, were sent to the whale address.
It was also mentioned that the same whale address also held 585k Ethereum, which is roughly worth $921 million. As of the time of publication, ETH is trading for an average price of $1577. Over the last 30 days, Ethereum’s price has increased by 32%.
WhaleAlert noted that a wallet identified as a Polygon wallet was discovered moving 9.7 million Polygon in numerous transactions. Around $10.7 million worth of MATIC were transferred from the whale wallet to an unknown wallet.
Data analysis reveals that 30 million MATIC were transported in a single transaction. MATIC was transferred to Binance in the amount of $34.3 million by a whale address. This action shows that whale is trying to sell Polygon for more money in order to earn a bigger profit.
Polygon was listed as one of the top 10 tokens by trading volume among the largest 500 BSC whales for the past 24 hours, according to whaleStats.
The MATIC price of Polygon has fall by almost 1.23% during the past 24 hours. At the time of publishing, it is currently selling for an average price of $1.14. Although its $814 million 24 hour trading volume has decreased by 26%.
