A crypto wallet illuminated by Lookonchain ended its altcoin investment 2.5 years ago with 60x profit today. The veteran investor managed to sell the crypto money he bought at a penny price above $ 1.00.
He bought $80,000 worth of altcoins from Binance 2.5 years ago.
According to a new tweet from on-chain data source Lookonchain, an investor who bought Polygon (MATIC) 2.5 years ago sold his wallet at 60x profit today. This investment, which coincides with the first days of Polygon’s launch, is over $ 200 thousand as of January.
Lookonchain reports that MATIC depositor has sold 4,553,023 MATICs today for an average of $5,200,081 DAI at $1.14. The veteran investor bought 4 million MATIC from Binance at the price of $0.02. These tokens were treated as staking pools throughout the process.
missed $13 million
In the meantime, let’s mention that the investor missed the November 2021 rally. A sale made during this period, when the MATIC price peaked at about $3.00, would yield a profit of about $13 million.
Polygon (MATIC) showed a bearish trend throughout 2023 based on market momentum. As of January, it is trading at 60% off its peak price. The fact that the investor bought at $0.02 but chose not to sell at the $3.00 peak may be linked to Polygon’s stable top partnerships.
Polygon’s partnerships with world brands
Throughout 2022, many industry leaders from finance to games have partnered with Polygon to transform their web architecture. In one of them, Starbucks announced that it will publish its NFT-based loyalty program on Polygon. Polygon has also collectively joined hands with these fashion and lifestyle brands. Adidas and Prada are planning to bring their NFT platforms.
In another partnership, Disney launched the Accelerator program to drive research and development into NFTs, AR and AI development. Polygon collaborated to join forces and help Disney with the program.
Lastly and most importantly; Meta, the former Facebook, announced in the past months that it has integrated NFTs into Instagram. There has been intense interest around Polygon since Meta’s announcement. In this way, Polygon has created a preferred Blockchain brand image for traditional businesses. Polygon CEO Ryan Wyatt explained that Meta chose polygon because of its carbon-neutral footprint, scalability, and most importantly, its ecosystem.
cryptocoin.com We have included all of Polygon’s recent partnerships in this article. With all these developments, Polygon maintains its position among the top 10 in terms of market value.
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