Altcoin Prices Bounce As Major Investors Buy Chainlink, MATIC and Fantom Dips
According to CoinMarketCap data, a handful of altcoins are seeing a slight rebound after yesterday’s market decline was inspired by Bitcoin’s drop to lows of $39,650.
At the time of publication, Ethereum has rebounded 2.73% to $ 3,128, while tokens such as BNB (BNB, + 5.59%), Terra (LUNA, + 6.34%), Dogecoin (DOGE , + 5.35%), Polygon (MATIC, + 8.69%) and Near Protocol (NEAR, + 19.03%) were up among the top 100 cryptocurrencies.
Polygon MATIC is up 8.69% at a present price of $2.23, as investors cheer the positive news of Associated Press launching its NFT marketplace on the Polygon blockchain.
As reported by U.Today, Polygon has announced the launch of Plonky2, a recursive SNARK which it claims is 100 times faster than existing alternatives and natively compatible with Ethereum.
Large investors buy into Chainlink, MATIC and Fantom dips
Large investors typically use dip periods to accumulate their favorite tokens. According to WhaleStats data, large investors have purchased tokens such as Polygon (MATIC), Convex Finance (CVX), Chainlink (LINK) and Fantom (FTM) in the last 20 hours.
WhaleStats reports four major MATIC transactions by whales. The most recent purchase is for an Ethereum whale that acquired 1,149,996 MATIC, or a value of $ 2,495,491. Another ETH whale ranked 614 on WhaleStats acquired 7,137,000 MATIC, or $ 15,415,920.
Fantom and Chainlink were not left out of the whale accumulation spree as an Ethereum whale bought 500,000 FTM, or $1,110,000 worth, while another ranking 130th on WhaleStats purchased 46,000 LINK, or $1,263,160.
