• Following a 20% increase in the price of MATIC, Whale purchases 659,765 tokens

  • The anonymous whale known as “Kvothe” spent about $1 million for 659,765 MATIC tokens. The total value of the coin held on the address has surpassed $6.6 million.

    MATIC has become the fourth-largest holding on his or her wallet, as indicated by the wallet and transaction pages, with 5.7 percent domination over other assets. Aside from Matic, the whale owns a slew of other tokens, including MANA, LRC, and AMP.

    The whale’s largest holding is Windows Metaverse, which is valued $72 million, and a significant stack of Ethereum, which is worth around $17 million. Since the cryptocurrency market’s rebound, the whale’s activity has dramatically intensified, with 25 transactions in the last several days.

    Market performance of MATIC

    In terms of market performance, Matic has followed the general market trend and increased its value by at least 20%, presently trading at $1.6 after previously settling at $1.4.

    The token’s local bottom was recorded on February 24 as MATIC fell below the $1.3 support. Despite the significant drop, the token’s price quickly recovered and formed a “hammer”—a single-candlestick formation that appears at the bottom of local trends—thanks to a concentration of buy orders in the $1.25 zone.

    At the time of writing, MATIC was trading at $1.6 after failing to break through the 200-day moving average’s resistance level. Among terms of whale performance, Matic is still in the top ten of tokens with the highest USD value among Ethereum whales. According to WhaleStats, the total value of MATIC holdings is currently $376 million.

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