Top Cryptocurrencies of 2024, Whales Help Prices Take Off
Amazing price increases due to whales and scalability
Polygon (MATIC) has demonstrated significant advantages as a layer 2 scaling solution for Ethereum, aiming to significantly increase transaction speeds and significantly reduce costs. With this unique advantage, Polygon has successfully occupied a key position in the encryption field and attracted the attention of many developers and investors. Its advanced technology ensures faster and more cost-effective transactions, solidifying its strong appeal as the top cryptocurrency of 2024.
Polygon (MATIC) has been on a tear lately, rising as much as 6% in the past 24 hours, with the price climbing to $0.80, and surging 21% over the past week. The key reason for this price surge is a significant increase in whale activity, with more than 161 large trades per day. On-chain data clearly shows that whales and sharks have continued to accumulate MATIC since late October, providing strong support for their price increases. While a surge in whale activity usually signals potential market volatility, it also fully demonstrates the firm confidence of large investors in Polygon's scalability solutions. The activity of Polygon (MATIC) whales further highlights its huge growth potential and strong market influence.
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