Binance Acquired 5M MATIC From Unknown Wallet

• Binance Bought 45.6 million worth of MATIC. 
• Polygon’s price declined by over 0.54% in the last 24 hours.

Polygon (MATIC) has joined whales’ preferred crypto token list along with Ethereum, an attractive cryptocurrency for whales with its potential. One enormous whale was spotted acquiring a sizable quantity of MATIC earlier today. According to Whale Alert, an account that tracks whale transactions, 5,190,398 MATIC was transferred from an unknown wallet to Binance. 

Polygon Price Action 

The cryptocurrency market is growing, and the optimism from January has inspired whales to start accumulating significant crypto tokens rather than selling them. The largest crypto exchange, Binance, acquired Polygon, which was worth about $5.6 million. 

Following the whale’s accumulation, MATIC’s price soared over 2% from $1.0886 to $1.1103. Despite that, at the time of writing, Polygon’s share price had declined by around 2.42% from $1.1103 to $1.0834. Also, MATIC decreased by 7.7% in a week and 6% in the last 14 days.

Further, on March 26, 7,014,849 MATIC, which was worth over $7.5 million, was transferred from Polygon to an unknown wallet. However, Polygon has a 24-hour trading volume of $290 million, which is up by over 2.13%, and a market cap of $9 trillion, as per CoinMarketCap. 

Also, Polygon witnessed a massive surge in transactions, surpassing $40 million in worth on March 24. Moreover, at the beginning of 2023, the global cryptocurrency market is moving forward with a positive transformation and massive price surges. The market leaders Bitcoin (BTC) and Ethereum (ETH), steadily trade in a range between $28K and $1.8K.

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