Are whales deserting MATIC?

Reporter

Published: November 29, 2023

• Whales begin to send their MATIC to exchanges, rate gets affected.
• New updates and upgrades might assist MATIC in the future.

Polygon [MATIC] is among the most popular networks in the crypto sector. The variety of partnerships it has actually made with significant business such as Starbucks and Disney have actually assisted MATIC gain mass appeal.

Regardless of these aspects, it was seen that in the last couple of days, whale interest in MATIC was decreasing.

The whales begin to discard

According to lookonchain’s information, FTX moved 8 million MATIC and 1,592 ETH to Coinbase and OKX. Furthermore, 2 wallets, getting MATIC from Polygon Ecosystem Growth, transferred 20 million MATIC to Binance.

The Polygon Ecosystem Growth wallet moved 217 million MATIC to 70 wallets at the cost high up on 15th November. Consequently, the cost of MATIC visited roughly 22%.

2 wallets(getting $MATIC from #Polygon Ecosystem Growth) transferred 20M $MATIC($14.86 M) to #Binance 7 hours back.

The #Polygon Ecosystem Growth wallet moved 217M $MATIC($162M) to 70 wallets at the cost high up on Nov 15.

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