After experiencing a significant decline over the previous month, the global cryptocurrency market shows widespread recovery. This has caused the Polygon (MATIC) token to increase by 60% during the last week significantly.
Nevertheless, despite this price increase, the biggest Ethereum (ETH) whale wallets have been acquiring the MATIC token.
In the past 48 hours, the largest ETH whales have purchased Polygon tokens valued at almost $36 million. In addition, more than 60 million MATIC tokens were added as a consequence of the accumulation.
The “BlueWhale0072” whale wallet account alone has made several purchases totaling $33.5 million in Polygon tokens. The biggest wallet accumulation transaction, meanwhile, cost $7.3 million. Due to this, the MATIC token has increased its position as one of the most popular tokens bought by ETH whales during the last 24 hours.
As we look further, we find that the top 10 currencies utilized by whales in terms of trade volume include the Polygon token. In addition, the leading ETH wallets have included MATIC in their list of the most popular smart contracts. Together, the top 100 Ethereum whales possess MATIC tokens valued at nearly $77 million.
Prices for Polygon had a slight decline after a significant recovery. In the last day, MATIC prices have decreased by around 2%. At present, it is trading for an average price of $0.58. Its current trade price is still 77 percent below its YTD price.
Coinbase now accepts deposits and withdrawals on its mainnet, according to a recent Polygon announcement. In addition, a user may now transmit and receive straight to Polygon PoS. This will make it easier for consumers to utilize Dapps on the network seamlessly. The Polygon has made significant progress since its PoS is the first network to launch on Coinbase.