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3 Million MATIC Tokens Bought by Whale Amid Market Decline

Fri, 01/28/2022 - 10:11
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Tomiwabold Olajide
Large investor purchases three million MATIC tokens during recent dip
3 Million MATIC Tokens Bought by Whale Amid Market Decline
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As reported by WhaleStats, a whale ranked 297th among the top 1,000 ETH wallets it tracks has purchased nearly three million MATIC tokens in three separate transactions. The MATIC price fell to lows of $1.30 on Jan. 24 before making an oversold bounce. At the time of publication, MATIC was trading at $1.63, up 4.40% in the last 24 hours.

According to the blockchain data tracker, the mysterious buyer made the first large transaction of 1,000,090 MATIC tokens, or $1,660,149 worth, about six hours ago. The two transactions of 1,159,995 and 845,778 MATIC tokens, or $1,925,592 and $1,403,991 worth, followed within an hour.

MATIC also remains among the top 10 purchased tokens and the most traded at press time, per WhaleStats.

Polygon unveils new milestones

Polygon EIP 1559 went live on Jan. 18, ensuring Polygon's proof of stake remains fully compatible with Ethereum while introducing fee and burn mechanisms. As part of the implementation, Polygon notes that its PoS block size has gone from an average of 20MB to 10MB.

Ryan Wyatt, head of gaming at YouTube, recently announced he would be leaving the video-sharing platform in February to join Polygon Studios as its CEO.

Polygon Studios is the network's gaming and non-fungible tokens (NFTs) arm. Polygon (MATIC) is planning a $100 million investment in projects directed by its subsidiary studio, which launched in July.

Polygon also announced the release of the Initial Polygon Hermez 2.0 zkEVM Documentation. Polygon Hermez is an open-source ZK-Rollup optimized for secure, low-cost and usable token transfers on the wings of Ethereum.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.