20 million MATIC has been successfully seized at the bottom

Addresses holding 100,000 to 1,000,000 MATIC have bought over 20,000,000 MATIC since May 15, according to Santiment’s on-chain data shared by analyst Ali Martinez.MATIC prices hit a low of $0.476 on May 12 before entering the current consolidation.

Recent whale behavior may be because they are taking advantage of bearish rallies or merging to buy dips.

According to WhaleStats data, MATIC also ranks in the top 10 for the trading volume of the 500 most giant ETH whales in the last 24 hours. WhaleStats says the full 2,000 ETH whales are hodl 118,390,533 MATIC dollars.

MATIC prices continue to trade within the range, giving the holder ample opportunity to accumulate. At the time of writing, MATIC prices were nearly 7% higher at $0.64, in line with the latest recovery in the cryptocurrency market. In any case, overcoming the $0.84 hurdle could signal prices have found the bottom at $0.47, leading to further upward momentum.

Circle announces USDC support on Polygon.

Circle customers can now deposit and withdraw USDC on Polygon after Circle announces support. This allows businesses to easily accept payments and make payments in USDC on Polygon or offramp to fiat currency as desired.

Users can also easily transfer and swap USDC on Polygon to and from the original USDC partner on the eight blockchains currently supporting it, including Algorand, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and Tron.

Polygon is a layer two scaling solution designed to run decentralized applications (dApp) built for Ethereum. As of May 2022, the blockchain has hosted more than 19,000 dApps and has more than 2.7 million monthly wallets.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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