Balances of Polygon whales’ wallets show massive increase as MATIC price spikes
Data provider Santiment reported that since early May, Polygon’s MATIC supply held in crypto whale wallets of various sizes has seen a massive increase of almost 9%, while the token’s price shows a strong increase by more than 23% over the past 24 years. hours.
In the meantime, a top Ethereum whale illustrated this data, purchasing 10 million MATIC tokens.
Whales add hugely to their MATIC holdings
According to a recent tweet posted by Santiment, wallets holding between 10,000 and 10,000,000 MATIC coins jointly purchased more MATIC, resulting in a collective increase in their balances of 8.7%. They have been buying crypto from Polygon for the past six weeks, since early May.
In the meantime, MATIC is showing a tremendous increase in value, rising 23.19% in the past 24 hours. At the time of writing, the price of the ERC-20 token stands at $0.5064, according to data shared by CoinMarketCap.
Soaring prices following the news of carbon neutrality
Another big reason MATIC added over 23% is a recent partnership with on-chain carbon market KlimaDAO to achieve carbon neutrality. Yesterday, Polygon announced that it had acquired $400,000 in carbon credits, which represents 104,794 tonnes of greenhouse gases.
Head of Polygon Sandeep Nailwal urged the blockchain space to go beyond mere promises to stop making the environmental crisis worse than now and actually do something to prevent it.
Whale buys 10 million MATIC
WhaleStats crypto tracker spread the word about a recent big buy from MATIC, when a whale called “BlueWhale0097” acquired 10,000,000 tokens worth $4,226,890.
MATIC tokens at the moment comprise 11.91% of this whale’s portfolio—that is $6,124,735 worth of MATIC.