Polygon Whales Buy Despite 88% MATIC Price Crash, Why?

Polygon, a layer 2 crypto, has recently experienced a downturn in its market value, mirroring broader declines across crypto markets. MATIC price reached its peak at an all-time high of $2.92 on Dec 27, 2021, before undergoing a significant correction. Over the past week, the altcoin has seen a 5% drop, attributed to overall market volatility.