Polygon [MATIC] whale interest was the subject of discussion some days ago due to a spike in transactions. Typically, trades valued...
whale interest was the subject of discussion some days ago due to a spike in transactions. Typically, trades valued at $100,000 or more are considered whale transactions.
According to IntoTheBlock, MATIC whale transactions climbed by over 1000% and were valued at over $100 million. When things like this happen, it is a sign of institutional interest in a token. And most of the time, it affects the token’s price.For MATIC, the price was $0.49 at press time. This constituted a 4.19% fall in the last 24 hours. However, earlier in the week, the value of the token climbed to $0.52 on the charts.
If the larger addresses are out of the money, it would be resistance. On the other hand, if they are in the money, it would be support.on the charts. Therefore, there is a chance that holders at $0.51 might decide to break even once the price revisits the level.Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free.
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