Polygon (MATIC) Bullish: Whale Caught Moving Millions Of MATIC

The MATIC token is the native token of the Polygon network. A technology platform that was launched to connect and grow Ethereum-compatible projects and blockchains. Recently, mysterious crypto whales abruptly relocated millions of Polygon (MATIC) as one of the top cryptocurrencies picked March 27 as the date for its zkEVM beta main network to go live.

Whale Transferred Millions of Polygon (MATIC)

Blockchain-tracking service Whale Alert reveals that anonymous investors moved 16,878,213 MATIC worth $23,757,114 in three different transactions. A whale moved 8,118,233 MATIC worth $11,588,427, the largest of the three transactions, from one unknown wallet to Polygon.

In the second transaction, a crypto whale moved 4,379,990 MATIC worth 6,077,174 from an unknown wallet to FalconX, a crypto trading platform. And the last transaction, 4,379,990 MATIC was moved from the Binance exchange to an unknown wallet. Read more Polygon (MATIC) news here…

zkEVM Beta Main Network To Go Live

As previously reported by Coingape, Polygon has put forward its plans to launch the much-awaited zkEVM, a zero-knowledge Layer 2 scaling solution on the 27th of March. It will be a zero-knowledge or ZK-Rollup scaling solution that processes transactions faster on layer 2. zkEVM will allow for faster and cheaper transactions while putting an emphasis on security.

According to the blog post, Polygon went live with its zkEVM testnet allowing Ethereum developers to move over their smart contracts from the main blockchain without having to reprogram them in a different language.

Investors are bullish on MATIC

Polygon is one of the best-performing cryptocurrencies since the beginning of this year. With an increase in open interest volume toward 2022 highs, many crypto traders are bullish on MATIC.

At the time of writing, the price of MATIC was $1.48, with a market capitalization of $12,914,154,264 and a 24-hour trading volume up by 66.77%. Now it stands at $1,413,587,615. At the same time, the circulating supply is approximately 8,734,317,475 MATIC coins as per the crypto market tracker CoinMarketCap.

Also Read: Why Upcoming Polygon (MATIC) Upgrade Can’t Come At A Better Time