Polygon (MATIC) Gaining Steam Among ETH Whales

Polygon News: Polygon (MATIC) is inching towards launching its zero-knowledge Ethereum Virtual Machine (zkEVM) Mainnet Beta by the March 2023 end. This major announcement has helped MATIC to register some impressive gains in the last 30 days. However, Ethereum (ETH) whales have been caught accumulating polygon ahead of the zkEVM launch.

Polygon Gaining Momentum

As per the data provided by the WhaleStats, the Top 5000 ETH whales MATIC holding has spiked to stand at $204.7 million. Polygon is the second largest token held by the biggest 5000 ETH whales after Shiba Inu (SHIB). The mentioned whales are holding around $665 million worth of SHIB as of now.

As we dig in, the top 100 Ethereum whales are holding more than $181 million worth of MATIC tokens. This makes up 3.75% of their total holdings. However, Shiba Inu is still the largest holding among the top 100 ETH Whales. These whales hold $648 million worth of SHIB. This makes up 13.4% of their total holdings.

Data depicts that Polygon stands on the tally of the top 10 purchased tokens among the top 100 ETH Whales. While it is also spotted on the list of top 10 tokens used by trading volume. However, it is on the tally of most used smart contracts by the biggest Ethereum whales. Read More Crypto News Here…

WhaleStats reported a whale named “Saitama” bought $23.34 million worth of 17.16 million MATIC in a single scoop.

Polygon Price has registered a surge of a whopping 39% in the last 30 days. MATIC is trading at an average price of $1.34, at the press time. Its 24 hour trading volume has dropped by 36% to stand at $418 million.

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Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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