Advertisement
AD

Main navigation

Advertisement

Polygon (MATIC) Price Goes Green as Whales Buy Dip: Details

Advertisement
Mon, 2/01/2023 - 13:14
Polygon (MATIC) Price Goes Green as Whales Buy Dip: Details
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to WhaleStats, Polygon's token, MATIC, has become one of the most bought crypto assets in the last 24 hours by Ethereum's largest holders. The average number of tokens purchased among the hundred largest members of this investor category was 1,780 MATICs, the equivalent of $1,349 on average per whale.

Advertisement

At the same time, the total portfolio of these Ethereum whales already has 29.9 million MATIC, which, at the current price, is equivalent to $15.4 million. However, the share of the Polygon token from the total size of the portfolio is just over 1%.

If IntoTheBlock data presented on CoinMarketCap is to be believed, the number of MATIC holders currently stands at 573,813 addresses. However, only 13% of them are in profit, and it appears that most of them are those 36% of the addresses that have held the token for more than a year.

Advertisement

Related

It is worth noting that, according to the same data, 85% of Polygon's total token supply is in the hands of the top 100 holders. This is not entirely representative, as 36.45% of the total MATIC offering is locked in a staking contract.

Polygon (MATIC) price reaction

The desire of large Ethereum holders to buy back the three-month lows on MATIC was rewarded by a subsequent 2.3% rise in the token's price. That said, MATIC's capitalization at its current price still puts it firmly in the top 10 of the largest crypto assets ranking.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD