Ethereum scaling solution Polygon (MATIC), backed by famous billionaire Mark Cuban, has been attacked by whales in the last 24 hours, according to WhaleStats data. What is happening in the altcoin project? As Kriptokoin.com, we are transferring the details.
Whales convert their stablecoin-intensive portfolios to MATIC
The top 500 Ethereum whales spent $1M on Polygon (MATIC), which rallied 13%. According to the fund composition, most of the whale’s wealth rests in stablecoins. According to the WhaleStats tracking tool, MATIC is among the top 15 cryptocurrencies in terms of dominance among whale-level wallets. Giant wallets currently hold more than $200M in MATIC.
The 15th largest cryptocurrency by market value is actively trading in a certain range as it can defend its support to $2 after falling rapidly from the 27th December ATH level of $2.8. continues to see. The local low was set at $1.4, corresponding to November prices.
Altcoin market expected to recover
MATIC is not the only token that has seen a price increase in its home market as most members of the altcoin market have been on the rise since Bitcoin surpassed $44,200. For example, Shiba Inu and Dogecoin have previously emerged as leaders of the recovery rally. Despite retreating from its local top of $0.0000035, SHIB price gained more than 8% during the reversal. Shib’s rival, Dogecoin, climbed 12% at its local top but failed to maintain momentum and returned 2.5% of its value.
Polygon (MATIC) is currently trading at $1.77, but the market as a whole is in a modest correction as the token has lost 1.93 percent of its value in the previous 24 hours. he sees. Since yesterday, the leading crypto Bitcoin has been consolidating in the $44,000 region. While February 16 was slightly corrected between 2-5% across the market, AVAX (+4.85), ALGO (3%) and MANA (3.94%) continue to be in demand.
What altcoin projects are Ethereum whales accumulating?
Giant wallets are accumulating the following cryptocurrencies, according to WhaleStats data, which tracks the 1,000 largest Ethereum whales.
- SHIB
- FTT
- OCD
- BESSST
- MANA
- CRO
- GALA
- MATIC
- LINK
- SAND
- FTM
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