Polygon (MATIC), the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development, recently raised $450 million in an investment round led by venture capital firm Sequoia Capital India to support its Web 3 plans. After this news, altcoin whales seem to have started to actively add this altcoin to their bags. As Kriptokoin.com, we provide the details…
Investment in Polygon has mobilized altcoin whales
With a market cap of approximately $13 billion, Sequoia Capital India is aggressively expanding its portfolio of Ethereum scaling solutions and While working to attract the larger developer ecosystem, Polygon has raised $450 million in a new round of venture funding. Sequoia Capital India led Polygon’s first major funding round. In addition to Tiger Global and SoftBank, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Dune Ventures, Alexis Ohanian’s Seven Seven Six, Steadview Capital, Unacademy, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, Sino Global Capital and Kevin O’Leary also participated in the private token purchase.
After the news, Ethereum whales became active and major investors began to fill their bags with MATIC before the next “bull run” for the token began. Looking at the data provided by WhaleStats, it appears that the two Ethereum whales have accumulated a total of 6.8 million MATICs worth $13.7 million in 4 transactions. The 655th largest Ethereum whale bought 4 million MATIC worth $8,080,000 in a single transaction.
MATIC became the second largest investment in whale wallet
Shortly after this transaction, another whale, currently ranked as the 290th largest whale, made three purchases, 902,990 MATIC in its first transaction and purchased 2.8 million MATICs for a total value of $5.6 million. According to data from the second whale, MATIC appears to be the second largest holding after Ethereum. This whale has $4.2 million tokens in its wallet, which it bought for an average price of $2.
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