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Ethereum whale buys 3 million MATIC tokens amid falling market

With the general bearish trend in the cryptocurrency market, some altcoins are currently showing investment-friendly prices. Ethereum whales are also taking advantage of this situation to gather as many promising assets as possible on the market. WhaleStats directly reported that the whale, ranked 297th among the top 1,000 ether wallets, bought nearly 3 million MATIC tokens. Details of the operation below.

MATIC is among the top 10 most purchased assets at the moment

According to the information shared by the blockchain data tracker, the investment made by the Ethereum whale was made in three separate transactions. The first major trade of 1,000,090 MATIC tokens, valued at $ 1,660,149, took place on the morning of January 28th. An hour later, the whale invested $ 1,925,592 and then $ 1,403,991 to acquire 1,159,995 and 845,778 MATIC tokens respectively.

In addition, this huge investment is not a remote act in the market since MATIC is one of the top 10 most currently purchased assets according to WhaleStats. The same source revealed earlier this week thatanother Ethereum whale bought 5,630,000 MATIC after investing $ 8,501,300. This purchase in particular followed the significant price fall of the asset on January 24 to trade at $ 1.30 at the time.

Major changes taking place at Polygon

While its native sign is still in favor of large investors, Polygon is preparing for some major changes. The EIP 1559 of the network went live in particular on 18 January, which ensured that Promised Polygon Proof is still fully compatible with Ethereum. As part of this implementation, Polygon notes that its PoS block sizes have been reduced from an average of 20MB to 10MB.

Polygon is also planning a $ 100 million investment in projects carried out by its subsidiary dedicated to games and NFTs and launched in July. It also announced the release of initial documentation for Polygon Hermez 2.0 zkEVM. ZK-Rollup is open source optimized for secure, inexpensive and usable voucher transfers on Ethereum wings.

The advent of all these projects could justify the recent interest in MATIC among Ethereum whales. In addition, the latter is also interested in other popular altcoins on the market despite the bearish context. In fact, two Ethereum whales recently bought 106 billion Shiba Inu as we reveal to you here.

Source: U.Inniu

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Luc Jose Adjinacou

Far from dampening my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and put forward my pen information related to this ecosystem.

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