In line with WhaleStats, Polygon’s token, MATIC, has turn out to be one of the vital purchased crypto property within the final 24 hours by Ethereum’s largest holders. The typical variety of tokens bought among the many hundred largest members of this investor class was 1,780 MATICs, the equal of $1,349 on common per whale.
— WhaleStats (monitoring crypto whales) (@WhaleStats) January 2, 2023
On the identical time, the whole portfolio of those Ethereum whales already has 29.9 million MATIC, which, on the present value, is equal to $15.4 million. Nonetheless, the share of the Polygon token from the whole measurement of the portfolio is simply over 1%.
If IntoTheBlock information offered on CoinMarketCap is to be believed, the variety of MATIC holders presently stands at 573,813 addresses. Nonetheless, solely 13% of them are in revenue, and it seems that most of them are these 36% of the addresses which have held the token for greater than a yr.
It’s value noting that, in keeping with the identical information, 85% of Polygon’s whole token provide is within the arms of the highest 100 holders. This isn’t completely consultant, as 36.45% of the whole MATIC providing is locked in a staking contract.
Polygon (MATIC) value response
The need of enormous Ethereum holders to purchase again the three-month lows on MATIC was rewarded by a subsequent 2.3% rise within the token’s value. That stated, MATIC’s capitalization at its present value nonetheless places it firmly within the high 10 of the biggest crypto property rating.