According to WhaleStats, the greatest holders of Ethereum have made MATIC, the token created by Polygon, one of the most often purchased cryptocurrencies in the previous day. The average number of tokens purchased by the 100 biggest investors in this group was 1,780 MATIC, or $1,349 for each whale.
JUST IN: $MATIC @0xPolygon now on top 10 purchased tokens among 500 biggest #ETH whales in the last 24hrs 🐳
We’ve also got $SHIB, $PNK, $CHZ & $CRV on the list 👀
Whale leaderboard: https://t.co/tgYTpOm5ws#MATIC #whalestats #babywhale #BBW pic.twitter.com/w3H5JXiz1X
— WhaleStats (tracking crypto whales) (@WhaleStats) January 2, 2023
Polygon (MATIC) Price Goes Green as Whales Buy Dip
The total value of these Ethereum whales’ holdings is 29.9 million MATIC or $15.4 million at today’s exchange rate. However, the Polygon token only makes up slightly more than 1% of the overall portfolio. According to information from IntoTheBlock displayed on CoinMarketCap, 573,813 addresses are holding MATIC.
Only 13% of them, however, are making money, and it seems that most of them are the 36% of addresses holding the token for more than a year. It is important to note that, according to the same data, the top 100 investors control 85% of all of Polygon’s tokens. This is not representative because a staking contract has locked in 36.45% of the entire MATIC offering.
A subsequent 2.3% increase in the price of MATIC was in response to the desire of significant Ethereum holders to repurchase the token at the three-month lows.
MATIC/USD 4-hour chart | Source: TradingView
Despite this, MATIC’s capitalization at its present pricing places it solidly in the top 10 of the list of the largest crypto assets.
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