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Crypto whales suddenly transferred $12 million worth of blockchain scaling solution Polygon (MATIC) as top crypto assets show signs of strength.
Crypto tracking platform Whale Alert reports the trade, Note This large address sent 13,428,828 MATIC tokens to US crypto exchange Coinbase.
MATIC is trading at $0.931 at the time of writing. The 10th largest crypto asset by market capitalization is up 2.25% over the past 24 hours and nearly 10% over the past 7 days. Despite the recent rally, MATIC remains down 68% from its all-time high of $2.92 set in December 2021.
MATIC is used to validate transactions on the Polygon platform and settle the fees required to run the network.
Despite the ongoing crypto winter, there have been some bright spots for Polygon.Crypto Analysis Company Messari report The project has seen a 191% increase in NFT (non-fungible token) sales since the end of September.Polygon too partnership With big brands like social media giants Meta, Reddit and coffeehouse chains Starbucks, Earlier this year.
Popular cryptocurrency strategist Kaleo told his 549,100 Twitter followers that MATIC will outperform Bitcoin (BTC) in the coming days after drawing diagonal resistance on the lower timeframe. says he’s thinking
We did a little manifesto and the breakout started. [resistance] is broken. “
At the time of writing, MATIC/BTC is trading at 0.00005457 ($0.93), suggesting a 20%+ upside potential if the pair hits Kaleo’s target of 0.000066 BTC ($1.12). I’m here.
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