- MATIC is currently trading hands at $1.37 after a 10.67% increase in price.
- Large holders of 10-100 million MATIC have bought 55 million MATIC since January 16.
- Crypto enthusiast tweets that MATIC is “well-positioned for more upside”.
Most of the top 10 cryptos are in the green for today, and Polygon (MATIC) is no exception to this. According to CoinMaketCap, MATIC is currently trading hands at $1.37 after a 10.67% increase in price over the last day. This helped boost the altcoin’s weekly performance as MATIC is up by more than 8% over the last seven days.
MATIC / Tether US 1D (Source: CoinMarketCap)
MATIC was able to strengthen against Ethereum (ETH) by about 1.30% over the last day, but weakened against the crypto market leader Bitcoin (BTC) by about 0.68% over the same time period.
Also in the green zone is MATIC’s 24 hour trading volume which now stands at $801,608,884 after a more than 3% increase since yesterday. With its market cap of $11,974,951,319, MATIC is currently the tenth biggest crypto in terms of market capitalization. This places it right behind Binance USD (BUSD) in the ninth position and in front of Solana (SOL) which is ranked eleven.
MATIC price vs holding 10 million to 100 million coins (Source: Santiment)
A crypto enthusiast took to Twitter on February 15 to share some of his own observations about MATIC. According to the post, whales still seem to be bullish on MATIC. He referred to data from Santiment that indicates that large holders of 10-100 million MATIC have bought 55 million MATIC since January 16. This is worth about $60 million.
In a related post, he added that MATIC appears to be “well-positioned for more upside”. The crypto market intelligence platform IntoThe Block’s IOMAP shows that 19,000 addresses bought 1.16 billion $MATIC at $1.21, & 47,000 addresses bought 4.72 billion MATIC at $1.03.
Addresses currently holding MATIC (Source: IntoTheBlock)
If these important demand walls hold, it could be a very good sign for MATIC, and further gains could be expected.
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