- Polygon experienced a 3,800% increase in whale transactions, driving a notable price surge in the past 30 days.
- Wallets holding 100,000 to 1 million MATIC tokens accumulated over 42.88 million since October 24.
- MATIC’s recent 50% price surge, surpassing $0.75, signals significant strength and raises expectations of reaching the $1 mark by year-end.
Polygon (MATIC) has witnessed an astonishing 3,800% surge in whale transactions over the last 30 days. According to data from IntoTheBlock, the spike in whale transactions exceeding $100,000 indicates heightened activity from institutional and large-scale investors.
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Further analysis reveals that wallets holding 100,000 to 1 million MATIC tokens have been actively accumulating, amassing over 42.88 million tokens since October 24. This strategic accumulation hints at a strong belief in the future potential of MATIC, contributing to the overall bullish sentiment surrounding the cryptocurrency.
In the past week alone, MATIC has exhibited remarkable performance, surpassing the $0.75 price mark. This surge represents an impressive 50% increase in just 20 days, showcasing the inherent strength of the crypto asset. Investors and analysts are now eyeing the possibility of MATIC reaching the coveted $1 mark by the end of the year, further emphasizing the positive trajectory initiated by the surge in whale transactions.
Notably, MATIC’s price rally comes on the heels of a 33% year-to-date decline in September, demonstrating the resilience and recovery power of the cryptocurrency. As of the latest update, MATIC is currently valued at $0.87 and has witnessed a remarkable 62% increase over the past 30 days, further solidifying its bullish stance in the market.
Additionally, the recent partnership between the web3 gaming platform Immutable and Ubisoft, with Polygon powering the platform’s zkEVM, adds an extra layer of anticipation for MATIC’s future price movements.
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