In a dynamic day for the altcoin market, which includes coins like MATIC, various projects experienced notable developments and price movements. Here are the details…
Polytrade partnership came from DWF Labs
According to DWF Labs Research, a strategic alliance has been formed between DWF Labs and Polytrade Finance aiming to revolutionize the real-world asset (RWA) landscape. Polytrade Finance, a protocol specializing in meeting RWA needs, plans to integrate institutions and protocols into the upcoming RWA Marketplace. Piyush Gupta, founder of Polytrade, has emphasized his commitment to innovation, voicing his confidence in reshaping how global financial institutions interact with real-world assets. This announcement coincided with Polytrade posting an impressive 17% increase in the last 24 hours, demonstrating positive market sentiment following the collaboration.
MATIC became the favorite of whales
On-chain analysis firm IntoTheBlock reveals a significant increase in institutional and whale activity in the cryptocurrency sector. Polygon (MATIC), in particular, is emerging as a frontrunner, experiencing a staggering 3,800% increase in transactions exceeding $100,000 in the last 30 days. These ‘large’ transactions show that the participation of major players is increasing and there is significant activity in the sector.
The result of this volatility is clearly visible in the price of MATIC, which exceeded $0.9 for the first time since July. MATIC’s market cap has increased by 75% in the last 30 days, highlighting the impact of increased participation among whales and institutional players.
ORDI, TIA and more rise
On the other hand, market data showed various other significant price movements. For example, KP3R rose as high as $110 in the last 24 hours, then experienced a correction but still recorded a 69.02% 24-hour increase. ORDI briefly surpassed $24 on November 13, currently trading at $23.1, marking a 24-hour increase of 21.7%. TIA witnessed a notable rise above $5 and is currently trading at $5.1. The 24-hour increase was 22.14% and an impressive 115% increase in the last four days. KLAY gained over $0.19 and is currently trading at $0.1933, reflecting a 24-hour increase of 32.3%.
These various market movements underscore the dynamic nature of the cryptocurrency space. As the crypto market continues to evolve, the role of institutions and whales is becoming increasingly evident. It also affects the course of individual projects and the industry as a whole. Time will tell what will affect the prices of cryptocurrencies in the coming period.
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