Crypto Whale Transfers Millions of MATIC, Sparking Investor Curiosity
Polygon’s (MATIC) native token has been making headlines recently after anonymous investors, commonly known as “whales,” abruptly transferred millions of MATIC tokens. Blockchain tracking service Whale Alert reported that the crypto whales moved a total of 16,878,213 MATIC tokens worth $23,757,114 in three separate transactions. One of the transactions, the largest of the three, saw 8,118,233 MATIC worth $11,588,427 moved from an unknown wallet to Polygon.
#Polygon (MATIC) Bullish: Whale Caught Moving Millions Of $MATIC.https://t.co/C1bSvmELRD#cryptocurrency #CryptoNews
— CoinGape News (@CoinGapeMedia) February 18, 2023
Transfers Raise Eyebrows Among Investors
In another transaction, a crypto whale transferred 4,379,990 MATIC, valued at $6,077,174, to FalconX, a crypto trading platform. Meanwhile, the third transaction saw 4,379,990 MATIC transferred from the Binance exchange to an unknown wallet. This sudden movement of millions of MATIC tokens has sparked curiosity among cryptocurrency investors and traders.
The timing of these transactions is also noteworthy. Polygon has announced plans to launch its zkEVM beta main network on March 27. zkEVM is a zero-knowledge Layer 2 scaling solution that allows for faster and cheaper transactions while prioritizing security. It’s a much-awaited update that has garnered much attention from investors and crypto enthusiasts alike.
Polygon’s zkEVM Testnet Goes Live
Polygon has already launched its zkEVM testnet, which allows Ethereum developers to move over their smart contracts from the main blockchain without having to reprogram them in a different language. This latest development is expected to further boost the value of MATIC, which has been one of the best-performing cryptocurrencies since the start of the year.
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%. The circulating supply is approximately 8,734,317,475 MATIC coins as per CoinMarketCap.
Bullish investors anticipate MATIC price surge
Investors are bullish on MATIC, and the sudden movement of millions of tokens suggests that they may be anticipating a significant increase in value once the zkEVM beta main network goes live. It’s also worth noting that Polygon is a technology platform that connects and grows Ethereum-compatible projects and blockchains, making it an attractive investment opportunity for those interested in the future of decentralized finance.
