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Polygon (MATIC) Flips This Token To Become Most Traded Crypto Among ETH Whale

Altcoins

coingape.com 23 July 2022 12:51, UTC
  
Reading time: ~2 m

Polygon (MATIC) has been one of the top cryptocurrencies which have registered a massive recovery over the past 30 days. Increased whale interest is one of the reasons behind this surge.

ETH whales adding more MATIC?

According to Whale Stats, MATIC emerged as the most traded token by the biggest of the 100 Ethereum whales over the last 24 hours. The token flipped SNX tokens to gain the top spot.

Data depicts that the top 100 ETH whales are holding more than $82.6 million worth of Polygon tokens. This makes up just 2.83% of their total holdings. However, the top 5000 ETH wallets are owns around $144.4 million worth of MATIC tokens.

The whale tracker reported that the ETH whales bought around $3 million worth of MATIC tokens in the last 48 hours. Wallet named “Bonobo” added $1.81 million worth of Polygon tokens in a single transaction.

Whales Stats also mentioned that the MATIC tokens landed on the tally of the top 10 tokens purchased by the biggest 100 BSC whales. Their holdings now stand at $31.87 million.

Polygon up by 21% in past 7 days

The Polygon is trading at an average price of $0.852, at the press time. MATIC’s prices are up by over 21% in the last 7 days. Matic is holding a 24 hour trading volume of around $882.5 million. However, a minor drop has also been reported in its total holders.

As we dig in, data shows that ETH whales have massively sold the MATIC token over the last 24 hours. The token stands on the top of the tally. However, Polygon’s price has also dropped by around 9% in the same period of time. MATIC token can also be found on the list of top 10 used smart contracts by Ethereum Whales.

Meanwhile, Chainlink and Shiba Inu are still the Most widely held token and the biggest token held by the dollar value, respectively. Top 100 ETH whales around $554.3 million worth of SHIB tokens. It makes 19% of their total holdings.


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