Whales have purchased approximately five million MATIC tokens since the announcement of the burn mechanism.
WhaleStats data, whales; After the “burn” announcement of the Polygon protocol Polygon (MATIC) It shows that it has invested approximately $14 million in tokens. In four different transactions reported by the whale watching platform’s website, whales have purchased nearly five million MATIC tokens since Polygon launched testnet implementation of Ethereum Improvement Proposal 1559 on Dec.
The most recent purchase was made by an Ethereum whale, which ranks 453th among the 1,000 largest Ethereum wallets tracked by the website. Whales uploaded 2,490,000 MATIC tokens yesterday worth $4,631,400.
🐳 An ETH whale just bought 2,490,000 $matic ($4,631,400 USD).
Ranked #453 on WhaleStats: https://t.co/oXOwgrIkhp
Transaction: https://t.co/eQjfqpSS73#MATIC #ERC20 #DEFI #ETH #whalestats
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) December 15, 2021
On December 14, Polygon’s core development team announced the launch of the testnet implementation of Ethereum Improvement Proposal 1559, which will allow the native MATIC token to be burned and more advanced fee visibility. This recommendation was then implemented on the Mumbai testnet at 11:00 am on 14 December.
Large MATIC Transactions Increase
According to on-chain analytics firm IntoTheBlock, Polygon (MATIC) Large trades for major transactions have increased by 112 percent in the last 24 hours.
This indicator shows the volume of such “large” transactions that take place every day. This metric is also an indicator of corporate activity or the trading of whales. Therefore, according to the website Polygon (MATIC) The 112 percent increase in trades in the last 24 hours may indicate a massive amount of whale trading.
The MATIC price started rising on December 14 after the announcement of a “launching” mechanism similar to Ethereum. Currently, the 14th-ranked altcoin is trading at $2.16, up about 16 percent in the last 24 hours.