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Home Crypto News Analysis Whales Coming For Polygon, In Last 24 Hours Ethereum Whales Bought 7.3M...

Whales Coming For Polygon, In Last 24 Hours Ethereum Whales Bought 7.3M Matic, But Why?

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ETH wales are shifting their focus towards Polygon (Matic).



In the last 24 hours, Whales Matic buying is increasing at a rapid pace. This sharp buying suggests that a new all-time high above $2.73 is coming soon.

MATIC became the Ethereum whale’s top 10 holdings and top 10 purchased tokens over the past 24 hours.

It all started when the second-biggest ETH whale bought 4,000,000 Matic tokens for above $10M.

After this huge purchase by the second largest whale, other ETH whales also started to follow her, stats are:

  • The 2nd largest ETH whale again bought 1,000,000 Matic for $2,690,000 USD.
  • Another ETH whale bought 1,000,000 Matic for $2,650,000 USD.
  • An ETH whale bought 747,594 Matic for $1,996,077 USD.
  • An ETH whale bought 579,116 Matic $1,511,493 USD.

That is a staggering 7,326,710 Matic Bought in the last 24 hours for $18,902,911. The reason for such massive buying is that Whales are aiming for a new all-time high above 2.73. IntoTheBlock’s In/Out stats show that at the price of %2.63, all Matic holders are in profit.

 

The strong buying is also because yesterday Matic made two big announcements, first Uniswap v3 was deployed on Polygon along with an opera announcement to integrate Polygon in its browser. In 24 hours after the launch of Polygon-Uniswap V3, the TVL has exceeded $10 million, and the transaction volume has exceeded $21 million. According to DappRadar data, Polygon-Uniswap’s transaction volume in the past 24 hours can rank third in the Polygon DeFi ecosystem.

Opera, the world’s top web3 browser is integrating Polygon with its browser. Opera currently has 380 million monthly active users. This is a huge success for Matic adoption.

The third reason for whale buying is that Polygon is also bringing an upgrade to its network with a testnet release known as the Mumbai test network, similar to the EIP-1559 update on the Ethereum network that will introduce the burning of Matic and better fee visibility.

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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