Santiment analytics suggest that since Dec. 16, addresses with Polygon (MATIC/USD) holdings between 1M and 10M tokens all observed growth from 867.11M to 990.92M MATIC. This uptick in MATIC prompted by whales looks set to result in an increase in prices for the asset, with analysts @ali_charts noting it nears “…a tough supply wall, ranging from $0.79 to $0.84”.
Crypto Thro, another reputable analyst in the space, revised her list of altcoins with 20 times more upside for the bull run, adding MATIC alongsideChainlink (LINK) and Cosint Chain (ATOM). Issuing a rallying cry, she emphasized that, “Grab your bags my friends.”
Today, strong data occurred in the MATIC ecosystem when 48.1 million MATIC tokens moved between two unknown wallets – continuing the occurrence of 18 million transactions which is double the size of any other major blockchain, according to Polygon’s analysis.1 Twenty-four hours prior, large crypto transfer saw nearly 29 million MATIC transferred from two wallets of unknown origin.2 ‘Lookonchain’ analytics moreover suggested that some new investors stockpiled the asset.
Meanwhile, this speculation about upside has ostensibly been backed by Polygon’s ability to achieve such a high transaction volume at gas fees just under $ 0.10. Proving doubly attractive, Data platform Santiment said MATIC and Litecoin (LTC) are currently resting greater than 42% of its supply in profit right now – leading to a greater chance for these token premiums to rise.
Sandeep Nailwal, executive of Polygon recently asserted: “ Even though it’s (blockchain) handles 18,000 million transactions each day – its operation gasoline fees pushed have dipped maximum to the range of $0.10 which is exceptionally cheap compared to other networks in existence”.
