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Polygon (MATIC) Large Whale Transactions Surge by 105% as per Reports

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Polygon (MATIC) Large Whale Transactions Surge by 105% as per Reports
  • MATIC has re-entered the top ten most-purchased tokens list on WhaleStats.
  • DraftKings joins the Polygon ecosystem as a validator and node operator.

In the previous 24 hours, large MATIC transactions have increased approximately 105 percent, according to statistics from IntoTheBlock. This current comeback effort by MATIC, the Polygon native asset, continues after it hit a low of $1.37 on March 8th. On CoinMarketCap, MATIC was trading at $1.46, up 3.50 percent in the previous 24 hours.

According to IntoTheBlock, large transactions are ones in which the transferred amount is more than $100,000 in total value. The on-chain volume of these transactions indicates how much money whales and institutional investors spend on a given day. MATIC has re-entered the top ten most-purchased tokens list on WhaleStats in the previous twenty-four hours. According to whales, FTT is their most valuable asset; yet, most investors prefer to hold Uniswap.

Using the current exchange rate, Ethereum whales have purchased almost 5.98 million MATIC tokens, or $8.73 million worth, in the last few hours. Recently, the largest transaction of 1,599,999 MATIC (or $2,335,999) was recorded on the blockchain.

Huge Step Forward in Blockchain Usage

It is the first time a large publicly listed corporation has been actively involved in blockchain governance, as noted in an official blog post, with DraftKings joining the Polygon ecosystem as a validator and node operator.

Polygon validators are responsible for verifying the legitimacy and validity of transactions on the network and are rewarded using the Proof-of-Stake technique. For the privilege to operate nodes, a crucial part of the blockchain infrastructure, all validators commit their native MATIC currencies from Polygon. According to Polygon, NASDAQ-listed business DraftKings’ decision to join the network was a huge step forward in blockchain usage.

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