The Polygon Network will start Zero Knowledge Ethereum Virtual Machine Beta by March. The community has been looking forward to its launch as part of Polygon’s upcoming development. Also, the hype helped propel MATIC with its excellent performance over the past 30 days.
A recent report revealed that Polygon (MATIC) has joined the most-bought token by a whale of 5,000 ETH amid its upcoming launch. Data by WhaleStats showing that the whale is now up to $204.7 million MATIC. As a result, Polygon (MATIC) followed SHIB as the second largest token held by the top 5000 ETH whales.
Top Ethereum whale with aggressive Scoop MATIC
At Above 100 ETH MATIC’s current holdings are $181 million. This means that MATIC now makes up 3.75% of the holding. But SHIB remains the largest token among the top 100 ETH whales. This ETH whale has amassed around $648 million in SHIB tokens, making it 13.4% of its holdings.
WhaleStats data shows that Polygon is among 10 purchased tokens among the top 100 ETH whales. It is also in the top 10 tokens by trading volume and one of the Smart Contracts most used by the top Ether whales.
According to Whalestats, a whale called Saitima bought MATIC for $23.34 million in a single transaction. The transaction amounted to approximately 17.16 million MATIC tokens.
Polygon (MATIC) Price Outlook
Meanwhile, Polygon has recorded a price increase of more than 37% over the past 30 days with a 24-hour trading volume of $467 million. Current coins can be sold for 1.27 US Dollarswith a 24-hour price drop of 4.1% and a 14-day price gain of 7.3%.
With a seven-day decline of 4.50%, MATIC is underperforming the global crypto market, which has fallen by 2.6% in the past seven days. It is also underperforming the same Ethereum smart contract cryptocurrencies that are down by 1.40%.
But, CoinGecko data shows that the community is confident about Polygon (MATIC), with more than 76% of users feeling good.
Polygon owes its performance to several ecosystem developments. As previously reported, the upcoming virtual machine beta launch without any knowledge is one of the main factors driving the price of MATIC. The price of the coin increased by several percentages during the anticipated period.
Another factor supporting Polygon’s price performance is the new NFT launched by National Geographic. The company launched a special premiere NFT collection at Polygon. Again, these factors helped push MATIC prices up in January and early February. However, the recent market downturn has affected the coin, which is trading at a loss.
Option images from Analyticsinsight.net and charts from Tradingview.com