- MATIC has experienced a spike in whale purchasing in the previous two days.
- Polygon has just expanded its relationship with Filecoin.
On February 18th, the polygon network saw a massive movement of MATIC tokens as whales traded the tokens in large quantities. Unknown wallets received a total of 5,000,000 coins from Binance. According to Whale Alert, it was finished on Friday, February 18th 2022, at 7:20 a.m. UTC, a blockchain monitoring and analytics service.
5,000,000 #MATIC (8,559,464 USD) transferred from #Binance to unknown wallethttps://t.co/6Dyy1ylzA3
— Whale Alert (@whale_alert) February 18, 2022
Despite the recent decline in the cryptocurrency market, MATIC remains one of the top ten most often acquired tokens as per data from WhaleStats. Investors are weighing the potential of a rate rise in March after the FOMC minutes were released on Wednesday, which has caused a modest drop in the market over the previous 24 hours. Like the rest of the market, the MATIC price has fallen.
Whale Alert
MATIC has experienced a spike in whale purchasing in the previous two days. WhaleStats monitored a fourth-largest Ethereum whale on February 17th, when they purchased 750,000 MATIC tokens, or $1,342,500. As a result of whale behaviour, cryptocurrency market prices and market capitalization have been significantly affected. To the market, a big purchase order is seen as an indication that the asset is in more demand, so the price rises.
Polygon has just expanded its relationship with Filecoin. With the help of Filecoin, awards and hackathons have been established to aid developers and NFT projects using Polygon blockchain in their integration with Filecoin and IFS (IPFS).
According to CoinMarketCap, the Polygon price today is $1.62 USD with a 24-hour trading volume of $1,152,071,797 USD. Polygon is down 7.03% in the last 24 hours.
