Polygon (MATIC) Price News: Buoyed by the scale of web 3.0 projects it is involved in, Polygon (MATIC) certainly saw significant increase in adoption in 2022. With a total market cap of $8.07 billion, MATIC is steadily placed at rank 10 among cryptocurrencies. Meanwhile, it appears that Polygon whales are at play when MATIC price is considerably low compared to recent highs seen in November 2022. A decentralized Ethereum scaling platform, Polygon enables developers to build scalable user-friendly dApps.

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Polygon (MATIC) Whale Accumulation

While the crypto market is yet to recover from the bloodbath of a crypto crash due to the FTX collapse, whales are accumulating the most promising tokens. Recently, reports suggested that Shiba Inu (SHIB) could already be well placed for price jump in near future. In fact, the top 500 Ethereum (ETH) whales are holding a significant share of total available supply of the memecoin. Similarly, on chain data showed a big transfer of MATIC from an unknown address. A Whale Alert on MATIC said,

“13,428,828 MATIC ($12,343,023) transferred from unknown wallet to Coinbase.”

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.