to WhaleStats MATIC, the native token of the Polygon network, has become one of the most purchased crypto assets in the past 24 hours by major holders of Ethereum. The average number of tokens purchased among the hundred largest members of this investor category turned out to be 3,515 MATIC. The whales spent an average of $2,693 at 3,515 MATIC per wallet.
At the same time, the total portfolio of these Ethereum whales already has 29.9 million MATICs, which is equivalent to $15.4 million at the current price. However, looking at the overall size of the portfolio, the altcoin has a share of just over 1%.
In addition, according to IntoTheBlock data presented on CoinMarketCap, the number of altcoin holders has now reached 573,813. However, only 13% of them are in profit, and most (36% of total addresses) seem to have held the token for more than a year.
It is worth noting that, according to the same data, 85% of Polygon’s total token supply is in the hands of the 100 largest holders.
Altcoin price reaction
After major Ethereum holders turned to MATIC, the altcoin was rewarded with an increase of 2.3%. However, MATIC’s value at its current price ensures that it still ranks in the top 10 of the largest crypto-assets rankings.
You can follow the current price action here.