MATIC outperforms LINK among the currencies bought by Ethereum | Invezz

WhaleStats data has revealed that the MATIC token is making notable gains. The token has become the most traded cryptocurrency among Ethereum’s top 1000 whale addresses.

Before Polygon’s native token made this profit, Chainlink (LINK / USD) occupied this top position, but now Polygon (MATIC / USD), which occupies the leading position, has invested it.

MATIC achieves big gains in popularity

Looking for quick news, tips, and market analysis?

Sign up for the Invezz newsletter today.

In the last 24 hours, MATIC has made remarkable progress in terms of earnings and now stands as one of the most popular currencies in the cryptocurrency market, according to WhaleStats. MATIC is now the fourth most bought coin on the crypto charts, while LINK ranks fifth.

Ethereum occupies the first position of the most traded cryptocurrency. USDC and USDT stablecoins are currently the second and third most traded cryptocurrencies on the market.

In addition to ranking high in terms of purchases, MATIC has also become one of the most popular altcoins on the market. The token is being closely followed by FTX, LINK, and SHIB in terms of popularity.

MATIC gains popularity among whales

Altcoins are becoming popular with Ethereum whale addresses. Over the weekend, Ethereum whales racked up into FTX, MATIC, and LINK tokens. The purchases were made by some of the largest Ethereum holders, and the surge in activity for these altcoins came despite the broader crypto market in recession.

On January 8, Ethereum’s top 1000 whales bought around 7,275,966 MATIC tokens. The tokens were purchased in three different transactions, with a value of the transactions equivalent to more than 15 million dollars.

The whales were also active in buying LINK tokens. On the same day, 222,801 LINK tokens were purchased, while FTX purchases amounted to 2,458,959 tokens valued at more than $ 85 million at the time. In addition, on the same day, 18.2 million MATIC tokens were transferred, for an approximate value of 12 million dollars.

The recent purchase by these whale addresses comes as volatility at the peaks of the crypto market. Short-term traders are currently staying away from the market, given the regular price drops that have been occurring. However, the recent action of the Ethereum whales shows that these wallets could accumulate more coins during the crash.

Invest in cryptocurrencies, stocks, ETFs, and more, in minutes with our preferred broker,

eToro






10/10

67% of retail CFD accounts lose money

We would like to give thanks to the author of this post for this remarkable content

MATIC outperforms LINK among the currencies bought by Ethereum | Invezz

Dispensary Business News