One of the major cryptocurrencies that experienced a significant rebound over the previous 30 days was Polygon (MATIC). One of the causes of this surge is increased interest in whales.
In the last 24 hours, the largest 100 Ethereum whales traded MATIC more than any other token, according to Whale Stats. To take the top slot, the token flipped SNX tokens.
Data shows that the top 100 ETH whales are holding Polygon tokens worth more than $82.6 million. Just 2.83 percent of their overall holdings come from this. However, the top 5000 ETH wallets currently own MATIC tokens valued at $144.4 million.
The whale tracker revealed that in the previous 48 hours, the ETH whales purchased MATIC tokens worth about $3 million. A single transaction added $1.81 million worth of Polygon tokens to the "Bonobo" wallet.
The MATIC tokens were listed among the top 10 tokens bought by the top 100 BSC whales, according to Whales Stats. Their current holdings total $31.87 million.
At the time of publication, The Polygon was trading for an average price of $0.852. Over 21% more has been paid for MATIC over the past week. Matic has about $882.5 million in trading volume for the past 24 hours. However, a little decline in its overall holders has also been noted.
As we look deeper, data reveals that over the past 24 hours, MATIC token sales by ETH whales have been incredibly large. The token is placed on top of the total. However, throughout the same time span, the cost of Polygon has also decreased by about 9%. The top ten smart contracts utilised by Ethereum Whales include MATIC token as well.
In the meanwhile, Chainlink and Shiba Inu continue to be the most popular and largest tokens in terms of dollar value, respectively. SHIB coins valued at $554.3 million are held by the top 100 ETH whales. It accounts for 19% of their whole portfolio.
