Whales bought 1,899,990 MATIC per day

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According to the tracking service WhaleStats, over the past 24 hours, two Ethereum whales have added 1,899,990 MATIC tokens worth $ 4,417,976.

Two of the 1000 largest Ethereum wallets tracked by WhaleStats bought 900,000 and 999,990 MATIC tokens worth $ 2,087,999 and $ 2,329,977.

This purchase helps Polygon move up to the top ten cryptocurrencies, now ranked 14th with a market cap of $ 15.9 billion (data from CoinGecko).

MATIC, the native token of the Polygon blockchain, rose from a December 4 sell-off low of $ 1.62 to a local high of $ 2.52 on December 8, representing an increase of almost 55%.

In addition to purchasing whales, the price increase is influenced by the fact that more and more users are learning about Polygon’s low prices, increased efficiency and scalability.

Waiting for the virtual “zk day” Polygon, which is set for December 9, can also push prices up. The event will focus on the zk-STARK apps, zero knowledge proof (ZK) proofs and a speech by Ethereum co-founder Vitalik Buterin.

Polygon is a Level 2 project that accelerates transactions by running on top of the main blockchains. It aims to address the scalability issues of the Ethereum network that have led to congestion and high fees.

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