A Whale Bought 5,401,623 MATIC Worth More than $5 Million

The well known crypto whale tracking website WhaleStats took to Twitter earlier this morning to share more about the buying habits of a specific Ethereum (ETH) whale known as “Dawlin”. According to the post, this whale bought 5,401,623 Polygon (MATIC), worth about $5,339,174.

MATIC whale transaction details (Source: WhaleStats)

This whale saw the current selloffs in the crypto market and the subsequent drops in crypto prices as the perfect buying opportunity to line his coffers with more MATIC. WhaleStats mentioned that the transaction took place at 08:46 UTC, and the Ethereum wallet BlueWhale4130 sent 5,401,623 MATIC to Ethereum wallet Dwalin. There have been a total of 247 block confirmations.

MATIC Network / Tether US 1D (Source: TradingView)

MATIC is one of the many crypto victims suffering after Silverstone Capital announced that they will be shutting down operations. The crypto market tracking website CoinMarketCap indicates that MATIC is currently worth about $0.9747 after a 6.77% drop in price over the last 24 hours.

The altcoin was able to reach a high of $1.09 and a low of $0.971 over the same time period. Over the last day, MATIC was able to strengthen against Bitcoin (BTC) and Ethereum (ETH) by about 1.46% and 1.83% respectively. The crypto is, however, still down by more than 17% over the last week.

MATIC’s 24 hour trading volume is in the green zone and now stands at $780,375,863 after a more than 33% increase since yesterday. With its market cap of $8,481,964,208, MATIC is currently ranked 9 among the biggest crypto in terms of market capitalization.

Source