Polygon (MATIC) Whale Activity is at the Top of 8 Months! Will the Rising Continue?

bitcoinThe sideways movements of $ 20,000 gave long-suffering altcoins a breather.

While many altcoins are traded at a premium between 5% and 10%, we see that the rises in some altcoins are much harder.

Yesterday Polygon (MATIC) After the co-founder Sandeep Nailwal announced that they will continue to work until they see MATIC in the top 3 in terms of market value, there was a 22% increase today.

While the rise experienced by MATIC in the last two days exceeded 30%, data on whale activities were also shared from Santiment.

Accordingly, as of November 4, MATIC transfers over $100,000 reached their highest level since February 2022.

In the data shared by Santiment, it was added that the increase in question may have something to do with whales holding more than $10 million in MATIC. Because these whales have rapidly increased their MATIC numbers with the rise in price since mid-October.

New entry can be risky for investors looking to buy MATIC. Must watch closely at $1 and $1.02 for new entry. As long as we stay above this level, it can be followed with a trailing stop. When the price goes below $1, it should be stopped.

*Not Investment Advice.