Polygon (MATIC) Surges To Become The Most Favored Crypto Among ETH Whale

At a time when the Crypto Mayhem has annihilated a number of big Whigs of the sector, Polygon (MATIC) has been able to hold its own and has made massive recovery in the past 30 days. One reasons for the massive surge in Polygon values is increased whale activities.

ETH Whales Hoard  Polygon (MATIC)

As per data received from Whale Stats, Polygon (MATIC) has become the much favored crypto coin among the biggest 100 ETH whales in the past 24 hours. At present MATIC has surged past SNX token to reach the top spot.

Data from Whale Stats reveal that the top 100 RTH whales are hoarding $82.6 million worth of Polygon tokens. This accounts to just 2.83% of their total holdings. Nonetheless, the top 5000 ETH wallets are owns around $144.4 million worth of MATIC tokens.

As per a whale tracking site, ETH Whales have purchased $3 million worth of MATIC tokens in the last 48 hours. A wallet named ‘Bonobo’ hoarded $1.81 million worth of Polygon tokens in a single transaction.

MATIC features in the top 10 tokens purchased by the largest 100 BSC Whales and their total holdings amounted to a whopping $31.87 million.

Polygon (MATIC) Values Surge 21% In A Week

When reports last came in Polygon (MATIC) was changing hands at $0.8239. The diminutive coin has surged by more than 21% in the past one week. MATIC is holding a 24 hour trading volume of around $725,880,557 representing a minor drop has also been reported in its total holders.

📰 JUST IN: $MATIC @0xPolygon flipped $SNX for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#MATIC #SNX #whalestats #babywhale #BBW pic.twitter.com/XiAPUFPbSz

— WhaleStats (free data on crypto whales) (@WhaleStats) July 23, 2022

Data also reveals that ETH Whales have massively divested their holdings of MATIC token in the last 24 hours. Polygon values have also fallen by 9% during the same period. MATIC also figures in the

As we dig in, data shows that ETH whales have massively sold the MATIC token over the last 24 hours. The token stands on the top of the tally. However, Polygon’s price has also dropped by around 9% in the same period of time. MATIC token figures on the list of top 10 used smart contracts by Ethereum Whales.

Chainlink and Shiba Inu continue to be the most preferred crypto and constitutes the biggest tokens which are being hoarded against their dollar values. The top 100 RTH whales hold between them $554.3 million worth of SHIB tokens. It makes 19% of their total holdings.