Unraveling Polygon's Recent Moves in the Crypto Ocean. 🔑🕵🏻♂️😲
Polygon whales make a splash with a spree, acquiring 120 million MATIC in a week. On-chain data signals potential bullish momentum for the cryptocurrency.
Noteworthy increase in MATIC purchases by whales in the past week. "Supply Distribution" indicator highlights their stake range, $7.7 million to $77 million. Whales, holding substantial reserves, wield influence on the asset's value.
Graph depicts a significant rise in Polygon Whale's supply distribution over the last month. Cumulative purchases exceed 120 million MATIC, valued at approximately $92 million.
Whales' accumulation coincides with the cryptocurrency trading at recent lows. Positive signal as large investors see potential amid lower prices.
Exchange reserves witness a surge, suggesting increased deposits on centralized exchanges. Rising reserves persist even after a significant decline in asset value. Selling pressure remains, potentially hindering short-term price gains.
Polygon currently trades above $0.78, reflecting a 22% decline since the start of the month.
