Whale Purchased 2,490,000 MATIC Tokens Valued at $4,631,400

  • Polygon Token Swap, new functionality introduced to its native wallet.
  • On-chain analytics firm IntoTheBlock reported a massive 112 percent rise.

An Ethereum whale, which ranks 453rd among the 1,000 biggest Ethereum wallets, just made a purchase. In the past 22 hours, it purchased 2,490,000 MATIC tokens valued $4,631,400.

After announcing the testnet implementation of Ethereum Improvement Proposal 1559 on December 14. Polygon’s core development team declared that the MATIC token burn process and fees would be more transparent. Moreover, this was executed on the Mumbai testnet.

Polygon Token Swap, new functionality introduced to the native wallet, finally announced by the Polygon team on December 15. Users will swap various kinds of tokens inside 0x API’s new capability. Consequently, there is no longer a need to rely on a third-party DEX aggregator to get the best exchange prices. Moreover, by addressing scalability issues on various blockchains, the project hopes to encourage the widespread use of cryptocurrencies.

Increase in MATIC’s Transactions

On-chain analytics firm IntoTheBlock reported a massive 112 percent rise in Polygon MATIC’s transactions in the previous 24 hours. Moreover, larger ones usually followed transfers of $100,000 or more. Traders and whales may be identified by a rise in these measures, which serve as an indicator. Furthermore, after announcing a similar launch process to Ethereum, MATIC’s price increased.

MATIC/USDT: Source: TradingView

According to CoinMarketCap, today’s Polygon price is $2.17 USD with a 24-hour trading volume of $3,277,199,495 USD. Polygon has been up 16.36% in the last 24 hours. Furthermore, the current CoinMarketCap ranking is 14th, with a live market cap of $15,387,297,150 USD.

The post has appeared first on thenewscrypto.com

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