Polygon (MATIC) is one of the top cryptocurrencies that has registered a massive recovery in the past 30 days. The increased interest in whales is one of the reasons behind this wave.

ETH Whales Adding More MATIC?

According to Whale Statistics, MATIC emerged as the most traded token by the largest of the 100 Ethereum whales in the last 24 hours. The token flipped SNX tokens to take first place.

Data shows that the top 100 ETH whales hold more than $82.6 million worth of Polygon tokens. This makes up only 2.83% of their total assets. However, the top 5000 ETH wallets hold approximately $144.4 million worth of MATIC tokens.

The whale tracker reported that the ETH whales have purchased approximately $3 million worth of MATIC tokens in the past 48 hours. Wallet named “Bonobo” added $1.81 million in Polygon tokens in one transaction.

Whales Stats also mentioned that the MATIC tokens landed on the total of the top 10 tokens bought by the largest 100 BSC whales. Their holdings now stand at $31.87 million.

Polygon up 21% in the last 7 days

The Polygon is trading at an average price of $0.852 at press time. MATIC’s prices are up more than 21% in the past 7 days. Matic has a 24-hour trading volume of approximately $882.5 million. However, a small decrease in the total number of holders has also been reported.

As we dig, data shows that ETH whales have massively sold the MATIC token in the past 24 hours. The token is on top of the count. However, the price of Polygon has also fallen by about 9% over the same period. MATIC token can also be found on the list of top 10 used smart contracts by Ethereum Whales.

Meanwhile, Chainlink and Shiba Inu are still the most widely used token and the largest token held by dollar value respectively. Top 100 ETH Whales for about $554.3 million in SHIB tokens. It makes up 19% of their total holdings.

Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.

This post Polygon (MATIC) flips this token and becomes the most traded cryptocurrency among the ETH whale

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