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Excitement as MATIC Whale Makes $4 Million as Polygon Ends the Month Gloriously

The cryptocurrency industry has witnessed another big win as market prices of coins continue to look promising. It all started in mid-January but became visible throughout the last week. Reports from different crypto news platforms have continued to show that the price surge has not ended.

While Bitcoin and Ethereum traders have continued enjoying the favorable price change, Polygon traders/holders have joined the party. According to the latest report, the MATIC ended the month with an over 50% increase. 

Statistically, MATIC has always shown a positive trend since last week. At first, it did a 19% increase, climbing to $1.19. this trend continued until it finally hit 50% today. This is also coming at a time when the prices of major coins have risen exponentially.

According to a price analysis from CoinGecko, the prices of BTC increased by 44%, while ETH responded to the market trend by 38%, The rise of MATIC was so significant that at the time of this writing, it has been named the 10th biggest cryptocurrency in the world by market cap. Currently, MATIC has a market cap of over $10.6 billion in total value. 

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Meanwhile, reports have it that even when Polygon is seen as a side chain almost equivalent to Ethereum, it is working towards improving its transaction speed and reducing the transaction fee while serving as a harmonious blockchain to users. As the Polygon continues to maintain its level, an unknown Twitter account with the profile name @lookonchain has revealed the most favored trader.

📰 Also read:  Ethereum Surges 20%, Lifts BLUR and BONK Gain Above 20%

According to this pseudonymous account, the most favored wallet made at least $4 million off the increase in the coin. It was further revealed that this whale made the transaction on the Binance platform by late September 2020 with $84,000 at $0.2 per token. Etherscan also added that the same investor withdrew $5.2 million and was changed into stablecoins during this time.

As of the time of this report, the token is still making a big move to go higher. At the moment, Polygon traders and holders worldwide remain enthusiastic about the latest development, hoping that the trend will continue.

📰 Also read:  Binance Celebrates 200 Million Users Amid Numerous Legal Tussles

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📰 Also read:  NYSE Mulls Crypto Trading Amid Improving US Regulatory Clarity 

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Alexander Fyodorov (Ukraine)

Alexander Fedorov is a new writer on Tokenhell, his articles are about on cryptocurrency news and platform reviews. We recommend keeping an eye on his latest posts as they are always very informative and super interesting.

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