Polygon’s native coin MATIC continues to gain traction as the cryptocurrency experienced an impressive increase in whale transactions over the past 30 days, bolstering price growth for the digital asset and the ecosystem.
Whale Activities Propels Polygon MATIC’s Growth
Recently, Polygon MATIC’s whale transaction volume significantly increased over the past 30 days, which has sparked increased interest in the crypto asset. Whale transactions are classified as transactions that are over $100,000.
Data from on-chain analytics firm IntoTheBlock has revealed a 3,800% increase in whale transactions within the Polygon network. The increase in whale transactions might indicate the presence of active buying and selling maneuvers from institutional and large-scale investors.
“Institutional and whale demand has picked up strongly, with Bitcoin seeing an 80% increase in the