Polygon (MATIC) whales are on a major buying spree, a trend that underscores a bullish trend that only a privileged few are aware of.<\/span><\/p>\n According to top market analyst Ali Martinez, Polygon whales have acquired as many as 120,000,000 MATIC valued at about $90,480,000 per current market price of $0.754 per token in just a week. This historic accumulation comes at a time when most altcoins are finding their balance with new layer-2 players like Blast<\/a> diverting investors\u2019 attention.<\/span><\/p>\n <\/p>\n #Polygon<\/a> | Recently, $MATIC<\/a> whales have been on a buying spree, scooping up over 120 million #MATIC<\/a> in the past week \u2013 that’s a hefty $90 million investment! pic.twitter.com\/uqXopGoqvy<\/a><\/p>\n \u2014 Ali (@ali_charts) November 29, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n It is worth noting that the \u2018whale transactions\u2019 being referenced here account for transactions worth at least $100,000. Per the chart shared by the analyst, this whale accumulation figure is arguably the largest recorded since at least November 14, showcasing a sustained trend in the Polygon ecosystem.\u00a0<\/span><\/p>\n The reasons for the attractiveness of Polygon are not entirely far-fetched. Polygon has expanded its influence as a viable L2 protocol, especially for the gaming ecosystem. Through broad collaborations with industry players, it has showcased its readiness to embrace innovations and adapt its offerings in an interoperable way.<\/span><\/p>\n <\/p>\n Polygon has also spooked the attention of top trading platforms in the past few weeks with the likes of Binance unveiling their support<\/a><\/span> for Circle\u2019s stablecoin USD Coin (USDC) on the layer-2 network. This integration ultimately brings more users to the Polygon protocol, expanding its ecosystem by doing so.<\/span><\/p>\n Another important trend that justifies the Polygon (MATIC) whale accumulation and potential impact on price is the steady upgrade of the protocol. As reported<\/a><\/span> earlier by Coingape, Polygon announced the upgrade of its zkEVM offshoot, a move that complements the launch of the POL smart contract<\/a><\/span> on the Ethereum mainnet.<\/span><\/p>\n These observable trends in Polygon have fueled a surge in the price of MATIC. At the time of writing, MATIC is up 2.6% to $0.754. The outlook has seen its price soar as high as 17% in the past month, setting the coin on a positive pedestal to end the month on a good note.<\/span><\/p>\n Should the whale accumulation continue, it can trigger a hoarding sentiment that might further deflate the circulating supply of MATIC. This, if matched by a consistent surge in demand can push the price of the asset to new heights as the year journeys to a close.<\/span><\/p>\nPolygon (MATIC) Whale Accumulation Trend<\/strong><\/h2>\n
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Impact of Upgrades on Price Growth<\/strong><\/h2>\n
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