MATIC Large Holders Increased Their Portfolios by Over 20 Million Tokens Since Mid-May

According to Santiment on-chain data shared by crypto analyst Ali Martinez, addresses holding 100,000 to 1,000,000 MATIC have acquired more than 20,000,000 MATIC since May 15. The MATIC price touched a low of $0.476 on May 12 before entering its present consolidation.

#Polygon | On-chain data shows that addresses holding 100,000 to 1,000,000 $MATIC have acquired more than 20,000,000 #MATIC since May 15. pic.twitter.com/WKPffQNgFl

— Ali Martinez (@ali_charts) June 9, 2022

Whales’ recent behavior might be because they are taking advantage of dips or consolidation to buy tokens at a discount.

JUST IN: $MATIC @0xPolygon now on top 10 by trading volume among 500 biggest #ETH whales in the last 24hrs ?

Peep the top 100 whales here: https://t.co/tgYTpOm5ws

(and hodl $BBW to see data for the top 500!)#MATIC #whalestats #babywhale #BBW pic.twitter.com/KksJtZ5j4Q

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) June 8, 2022

According to WhaleStats data, MATIC also ranks among the top 10 in trading volumes for the largest 500 ETH whales in the last 24 hours. The top 2,000 ETH whales, according to WhaleStats, are hodling $118,390,533 MATIC.

MATIC’s price continues to trade in a range, giving holders ample opportunity to accumulate. At the time of publication, MATIC was slightly higher, by 2.84% at $0.63, in line with the latest crypto market rebound. In any case, a break above the $0.84 barrier might imply that a bottom may have been reached at $0.47, leading to further upside gains.

Circle announces support for Polygon USDC

Circle customers can now deposit and withdraw Polygon USDC as Circle announces support. This allows for businesses to easily accept payments and make payouts in Polygon USDC, or off-ramp to fiat currency as desired.

Users can also easily transfer and swap Polygon USDC to and from its native USDC counterpart across the eight blockchains that currently support it, including Algorand, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar and TRON.

Polygon, a Layer 2 scaling solution, is designed to run decentralized applications (dApps) built for Ethereum and, as of May 2022, already hosts more than 19,000 dApps and over 2.7 million active monthly wallets.