MATIC Grows By 18% as Ethereum Whales Buy Over 2.8M Tokens

Deep pocket investors on the Ethereum network are accumulating Polygon (MATIC), according to data from WhaleStats, a service that tracks the activities of whale investors. WhaleStats alerted the crypto community today that two Blue Whales have bought over 2.8 million units of Polygon native tokens, worth over $3 million, in the last 24 hours.

These recent activities of the crypto whales have positively influenced the price of MATIC. Of the top ten cryptocurrencies with the largest market share, only MATIC crossed a double-digit positive performance score under the seven-day trading window. The coin grew by over 18%, according to CoinMarketCap, putting its price at $1.28, at the time of writing.

Furthermore, WhaleStats’ leadership board shows that the top 100 Ethereum network whales hold approximately $100 million of Polygon tokens. Interestingly, topping the list was the meme Shiba Inu (SHIB) coin with over $700 million per whale.

Over the past seven days, SHIB’s price increased by over 21%. The meme coin recently outranked Polkadot (DOT) and Litecoin (LTC) when it traded at the twelfth position with a market cap of over $6 billion. However, Polkadot has reclaimed position 12, with a narrow margin between the duo.

On the other hand, Bitcoin (BTC) has maintained its momentum between $22,500 and $23,000 in recent weeks, according to CoinMarketCap data. BTC’s seven-day cumulative growth is barely 1%, while its closest competitor, Ethereum (ETH), increased by over 6%.