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According to the tracking service WhaleStats, over the past 24 hours, two Ethereum whales have added 1,899,990 MATIC tokens worth $ 4,417,976.
Two of the 1000 largest Ethereum wallets tracked by WhaleStats bought 900,000 and 999,990 MATIC tokens worth $ 2,087,999 and $ 2,329,977.
This purchase helps Polygon move up to the top ten cryptocurrencies, now the token is ranked 4th with a market cap of $ 17.5 billion (data from CoinGecko).
🐳 An ETH whale just bought 999,990 $matic ($2,329,977 USD).
Ranked #360 on WhaleStats: https://t.co/62Q8q8a3ZI
Transaction: https://t.co/JOXx2Li4XR#MATIC #ERC20 #DEFI #ETH #whalestats
— WhaleStats — the top 1000 Ethereum richlist (@WhaleStats) December 8, 2021
MATIC, the native token of the Polygon blockchain, rose from a December 4 sell-off low of $ 1.62 to a local high of $ 2.52 on December 8, representing an increase of almost 55%.
🐋 An ETH whale just bought 900,000 $matic ($2,087,999 USD).
Ranked #207 on WhaleStats: https://t.co/2do7yJzgy7
Transaction: https://t.co/iVbOjdzivv#MATIC #ERC20 #DEFI #ETH #whalestats
— WhaleStats — the top 1000 Ethereum richlist (@WhaleStats) December 8, 2021
In addition to buying whales, the price increase is influenced by the fact that more and more users are learning about Polygon’s low prices, increased efficiency and scalability.
Waiting for the virtual “zk day” Polygon, which is set for December 9, can also push prices up. The event will focus on the zk-STARK apps, zero knowledge proof (ZK) proofs, and a speech by Ethereum co-founder Vitalik Buterin.
Polygon is a Level 2 project that accelerates transactions by running on top of the main blockchains. It aims to address the scalability issues of the Ethereum network that have led to congestion and high fees.
#Big #whale #purchases #Polygon #developments #move #MATIC
