What are MATIC Whales doing? Where Will the Polygon Price Go? While the crypto market is showing few signs of recovery from the FTX-related disaster, Polygon’s (MATIC) price forecast shows a trend.
With the breadth of Web 3.0 projects it is involved in, Polygon (MATIC) has seen a significant increase in adoption in 2022. With a total market capitalization of $8.07 billion, MATIC ranks 10th among cryptocurrencies. Meanwhile, it looks like polygonal whales are playing when the price of MATIC is very low from the highs seen in November 2022. A decentralized Ethereum platform, Polygon helps developers build user-friendly dApps.
Polygon (MATIC) Calculation of whales
Although the crypto market is still recovering from the blood of the crypto crash due to the failure of FTX, whales are gathering the best performances. Recently, reports suggest that Shiba Inu (SHIB) may already be good for the stock price in the near future. In fact, over 500 Ethereum (ETH) whales hold a significant portion of the total memecoin available. Similarly, on-chain data showed a large transfer of MATIC from an unknown address. The whale show at MATIC said,
“13,428,828 MATIC ($12,343,023) from unknown wallet to Coinbase.”
On the other hand, various factors indicate that it may be too high for the price of MATIC. If the show continues, the cryptocurrency could well prepare to cross the $1 mark soon. The cryptocurrency recently broke the $0.87 barrier. At the time of writing, the price of Polygon (MATIC) stands at $0.9264, up 0.71% in the last 24 hours, according to the price monitoring platform CoinMarketCap. It remains to be seen how the cryptocurrency will go by the end of 2022. Recently, Polygon and India’s e-commerce giant Flipkart formed a research and development company.
In a major development that could pave the way for more corporate adoption, Polygon recently partnered with Wall Street bank JP Morgan. The bank used the blockchain network to conduct transactions.