The price of Polygon (MATIC) has soared 43% in the past 30 years. However, the positive attitude in the field of data encryption is not the only possible reason for the soaring price of MATIC. According to the data on the chain, a very large whale trade may cause the price here to soar.
According to Santime's information, the largest transfer of MATIC so far this year occurred on January 25. This transaction occurred before the recent 20% rise. It mentioned that 59 million MATIC (equivalent to 56 million US dollars) were sent to the whale's detailed address at the lowest price on the same day.
It added that the detailed address of the same whale also has 5.85 million ETH (about 921 million US dollars). As of the time of press release, the average price of ETH was US $1579. The price of Ether has risen by 31% in the past 30 days.
However, WhaleAlert reported that a wallet labeled Polygon moved 9.7 million Polygons in a single transaction. The whale wallet will use about US $10.7 million in MATIC to transfer to an unknown wallet.
During our in-depth analysis, the data showed that 30 million MATICs were moved in one transaction. A whale's detailed address will be transferred to Binance using MATIC with a value of 34.3 million dollars. This behavior shows that whales are seeking to sell irregular graphics at higher prices to obtain more profits.
WhaleStats reported that Polygon has won the top 10 tokens in the trading volume among the 500 BSC whales with the largest nature in the past 24 hours.
Polygon's MATIC price has increased by about 5% in the past 24 hours. As of the time of press release, its average price was $1.13. However, its trading volume in 24 hours has reached 824 million US dollars, down 28%.
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Tue, 18 Apr 2023