Polygon (MATIC), the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development, recently raised $450 million in an investment round led by venture capital firm Sequoia Capital India to support its Web 3 plans. After this news, altcoin whales seem to have started to actively add this altcoin to their bags. cryptocoin.com We convey the details as…
Investment in Polygon sparks altcoin whales
With a market cap of around $13 billion, Polygon has raised $450 million in a new venture funding round as Sequoia Capital India aggressively expands its portfolio of Ethereum scaling solutions and works to attract the larger developer ecosystem. Sequoia Capital India led Polygon’s first major funding round. In addition to Tiger Global and SoftBank, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Dune Ventures, Alexis Ohanian’s Seven Seven Six, Steadview Capital, Unacademy, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, Sino Global Capital and Kevin O’Leary also participated in the private token purchase.
After the news, Ethereum whales became active and major investors started filling their bags with MATIC before the next “bull run” for the token began. Looking at the data provided by WhaleStats, it appears that the two Ethereum whales have accumulated a total of 6.8 million MATICs worth $13.7 million in 4 transactions. The 655th largest Ethereum whale bought 4 million MATIC worth $8,080,000 in a single transaction.
MATIC becomes second largest investment in whale wallet
Shortly after this transaction, another whale, currently ranked as the 290th largest whale, made three purchases, 902,990 MATIC in its first transaction, and purchased 2.8 million MATICs for a total value of $5.6 million. According to data from the second whale, MATIC appears to be the second largest holding after Ethereum. This whale has $4.2 million tokens in its wallet, which it bought for an average price of $2.
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