Ethereum layer-2 scaling solution Polygon (MATIC) has seen a whopping 1,493.81% surge in large transaction volume, which denotes whale activity.

Spikes in Large Transaction Volumes imply higher activity among institutional buyers and sellers. In this perspective, large transactions exceed $100,000.

According to IntoTheBlock data, Polygon's large transaction volume increased by 1,493.81% in the last 24 hours, totaling $102.87 million. This equated to 203.98 million MATIC in crypto terms. Notably, this represents a seven-day high.

However, MATIC's price had barely moved in response to the surge in whale activity. At the time of writing, MATIC was up 0.84% in the last 24 hours to $0.511. In what might come next for the MATIC price, a sustained rebound will target the daily moving averages 50 and 200 at $0.6118 and $0.808, respectively.

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