Bitcoin Forum

According to the recent tweets posted by WhaleStats on-chain data service, large Ethereum whales keep purchasing big chunks of Polygon’s native coin MATIC, while the coin has added more than 26 percent in the past two days and in total has gained roughly 70 percent since the start of the week.

Whales grab 15 million MATIC on 70% price surge
WhaleStats has reported that over the past 24 hours, whale known as "BlueWhale0072" has made two transactions, acquiring 10,000,000 and 4,723,190 MATIC tokens. All-in-all, these two purchases were worth $8.7 million.

As covered by U.Today earlier, whales have been actively acquiring MATIC over the past six weeks since early May. By doing so they have demonstrated a 9-percent rise of their balances of wallets holding from 100 million to 1 billion tokens.

Details:
https://u.today/15-million-matic-bought-by-eth-whale-as-token-rises-26-in-past-3-days

This is a good token with excellent liquidity on both centralized and decentralized exchanges. The 2nd level solution will be relevant for several years, until transactions in the mainnet become cheaper, and even after that, I don’t think that this ecosystem will lose popularity.

It seems like that the whales have been starting to accumulate more and more tokens. It's not only matic but some defi tokens were also being hyped and i see that whales are also accumulating more and more shiba inu as well. Could this become a signal if the recovery will be happening very soon?
I have bought matic during the dump and the whales were giving me huge profit and i personally think that if this will be growing even more from day to the another day.

Is this the time that I should buy it? I think it would be a great idea knowing that people will start buying it more and more. I believe that MATIC and the team behind it, Polygon, is aiming to be one of the cryptocurrency scene's best. So I think having this type of news would be great.

Polygon has accomplished a lot this quarter, especially zkTech which offers next-generation scaling solutions but don't be deceived.
We are still in a bear market and the market conditions are still the same.
Don't throw in all your USD, Leave your DCA intact. IMHO

The holders of the token decides to hold the token then its fine but in my opinion if you're already in profits and a slight bump when the total market is completely down then I will sell it and wait for the red season again because I don't think we are in the near of bull trend so just an opportunity to make some money that's it.

Good to see that. That means if the bearish trend may get reverse trend as soon as more whales are coming in. I see that some altcoins were just getting accumulated by the whales. This means if the altcoins can recover slowly even during the bearish trend. Polygon was doing it so well and it was recovering from the dump as fast as possible compared with another token that exist in the market as well. Waiting for the massive whales will be coming back again to the crypto.

if that whale is buying tons of MATIC tokens, then it means, he's eyeing very good returns in the near future. because you won't risk your multi-million dollar of assets to something you don't believe in. and with MATIC, i actually think that they are one of the platforms that will survive in this bearish period and would recover fast once we are out of this period. they have working platform and more and more projects are using them. so yes, for me, they have good future. and that whale may be is looking for a good payday very soon.

Interesting, might be worth noting.  They are gonna want to pump that bag hard in the next bull run.  Might have to pick up some matic just in case.  Interesting that eth whales are moving a ton of coin into what some people call eths competition.

Currently BlueWhale0072 is only holding around 178K $MATIC which is worth over $100K. After I looked it up on Blockchain, BlueWhale0072 has already moved its $MATIC Asset to another wallet (don't know if it's his wallet or not). At the address that BlueWhale0072 sent the $MATIC to, I see this wallet has accumulated more than 50 million $MATIC accumulated since 4 days ago. Is this news important? I think this is just news that is common in the crypto world.

References
[1] https://www.whalestats.com/transaction/ethereum/0x0612f005ca003903d7bb400dbe82d7d39ab8adf5a6f7af9feb8c5e5f57edd9e4 (WhaleStats tracking)
[2] https://etherscan.io/address/0x1157a2076b9bb22a85cc2c162f20fab3898f4101 (BlueWhale0072 wallet on Etherscan)
[3] https://etherscan.io/address/0x766ee93384795a08632e2cecc82a593e55bcf969 (Possible BlueWhale0072 wallet for $MATIC token accumulation)

MATIC is a good token and it have a lot popularity and day by day Matic chain using increasing . people loves Matic chain for low gas fee like Binance smart chain . Matic have a bright futures and it is a investable coin. I am holding 10k Matic and my target I will hold it till 2025

Since they started purchasing in May, it can be said that they have bought matic from the highest dip so far. We all know that after Ethereum and BNB, matic takes the position. It is now one of the potential coins. As it's price comparatively much lower, everyone has started investing heavily on metic coins.

This is bear market period where potential tokens with great fundamentals are relatively cheap, any good investor will learn to take advantage having a long term goal in mind.
No doubt matic is one of the best layer 2 scaling solution for eth network, although it is not yet 100% smooth (it does experience network hiccups sometimes) but it seems it will get better as time passes and development is persistent.
Now is the time to make a sound and healthy portfolio against the coming bull season and I can see some whales are already doing that without stress.  The make has made it much fun to choose.

Like many people, I fully agree that the MAT is really worth buying and using in this space. Along with the information surrounding it right now, I think buying it now is also a not too bad choice, and in terms of looking for sustainable and long-term profits, it is always an idea. Fit. Some information about whales moving to buy it more will also have a positive effect on the matic.

It is going to be like a double edged sword because the amount that they are dealing with is not a joke and then if someone decided to dump all those tokens then it would be a disaster for the other MATIC holders. I just hope that it’s not going to be all done and they are going to be making it better for the future of it. They sre worth it I think.

Some people may think this news was not even an important news but i just consider it maybe if we have already entered into the accumulation phase where the whale have been making a lot of the accumulation to the some altcoins to be used as the future trade or long term hodl.
This news is not so important but for me as an active trader and the price impact that already happened with matic have been telling us if the impact was so big.
Making 70% recovery during the bearish market is awesome performance.

If some media coverage site featured this, it could be a catalyst for fomoing. Yes people tend to do that when they found something worth risking. Matic is also one of the good L1 aside from fantom, avalanche, and solana. So it might be a good time for accumulation of these layer1 eth alternatives due to heavy downfall since then.

The whale knows the time to buy the right one, he buys matic when the price is around 35 cents and if he sells now then has a profit of more than 40%, this is the habit of the Pope that is to buy when the price is, then sells gradually when it is a big profit, moreover Matic has good potential for the long term.

Yes, that's most likely what happened. The leading crypto media is used as a tool to guide public opinion and thoughts regarding what will happen to the price of $MATIC in the near future. But as before, people in crypto have in-depth analysis of crypto asset prices that are going up or down, so we don't have to worry that many people will be trapped because of the news.

I think they bought the right coin, because matic is a coin that has enormous potential and prospects, of course this coin has a great opportunity to be higher, especially since the ETH Whale bought a very high amount of matic, I am very optimistic that the popularity of matic will increasing, for those of you who want to buy matic I think this is the right time, because the price has not gone up too high.

Whales are accumulating regardless of the present market situation. Between if not now then when! Every other investor should be doing same as the whales, buying as little as you can each time. Matic is a sound project but I will rather have something different to fill my bags.

Putting all the merits of Metic aside, if we talk, since the market has started to fall, it has fallen from 3 dollars to 0.30 cents, For a project that has a large market cap, So anyone buying it at this price is also a trivial matter in such a large number. It is a simple investment in my opinion in which as soon as the market improves and it reaches a good price again, of course, most will sell. I think its price is still quite low.
Should buy it for a low but safe profit.
DYOR

Well, 70 percent drop is attractive already but after reading this, I then check if how much btc dropped and I am surprised when the result says btc have also plunge 70 percent since its last ath which was 69k. Why can those whales invest on btc instead than matic?

Or maybe they still think that matic is much cheaper as they can buy millions of it with $8.7m usd on hand but if the same money is used in btc maybe they can only acquire hundreds or thousands of it. They are called eth whales so maybe they are only into eth and other altcoins? But overall, this is a good news for matic. Many are speculating that matic can break higher limits and this could be the start of it.

This was a great news to all MATIC enthusiast, in fact, I hold some few of this token in my wallet in the long term.
Because, they have a good development and plan for the future as well to their community, and I know there is a good future
waiting for this token in the market, that is why they also have a whale investors holding it as well in the long term.

For this news happened, at any moment the price of the polygon also might get kick its price value in the market,
who knows, and lets wait for that things. Good luck to all holders.

One simple answer, because they can see more profit in Matic than investing in Bitcoin at this moment. 


Indeed it is way more cheaper and can easily surge to an exponential increase.


Definitely it is a good news.  I have been into Matic for a while now.

Majority of the great projects like the NFT ones are mostly migrated in Matic, I even sometimes wonder the reason matic didn't get any famous like terra luna before the crash, it was great solution or alternative for ETH.
and even now they're still as great as ever and maybe in the future it just gonna climbs its rank around 5th and beyond.
I guess it's kinda obvious that the big capital investment gonna flows in eventually and now that's happening, so many are tried investing in matic.

Yeah I never understood the love affair with eth when you have platforms like matic around.  The more and more I look into it the more I like.  Might have to go knee deep into a bag of matic before the next crypto run.

although until now matic has not shown pumps up to thousands of percent like the others, but the matic network is increasingly being used, especially during the current cryptocurrency trend. we can see how strong matic is even in the current bearish season and is still able to move up in the cryptocurrency rankings. so from that we can make this an opportunity according to our view

We could compare the token to what happened to BNB where tokens from ETH migrated over to BNB. This time more projects are using Matic. Many of the whales I guess are also speculating all these will take place soon since they also realize BNB is just too centralize.

But is it the right time to buy MATIC while the  market isn't yet sure to surface from this bear market? If I have to invest I might wait for the price to dip again to $0.35 again.

Polygon Mastic token is a good project that need to buy and hold on the bear market, even making some progress for a pass two days now, matic coin is really moving up with a good percentage increase, which 15 million worth of  Matic Coin bought from the Eth whale, that means will soon go to the moon. Thanks for sharing the information.

However we need to wonder why this is the case? Whales could have made their move in secret and not let anyone know what they are doing but instead they have chosen to do this in a manner that is very obvious.

This tells me they are trying to make the interest in this coin grow and without a doubt thy are achieving their goals, and since that is the case then it is possible the price of this coin could go up despite the bear market that we are experiencing, however we need to be careful as it is possible the whales then sell their coins in secret and leave a lot of people holding the bag and suffering huge losses once they sell their coins after hyping it with this purchase.

looks like token matic will be a token that goes up thousands for years to come. The more good news the better to increase interested investors. In general, matic is a good network not inferior to other networks, I have a 180 token matic bought at a price above 2$ more, well I have to wait for time to get back to profit

The usual accumulation at around down trend by the big capital traders, it's always like this since like forever, i'm not so surprised if they did accumulate ETH and BTC too on the way.
After all, it's always the best strategy to accumulate at around this moment, too bad majority of individual with relatively low capital are instead didn't accumulate.
In the future they definitely gonna be accumulating more and more and that could become a sign of bullish that's to come.

Others are still waiting for an opportunity to buy at a low that they consider.

While the other whales have already decided to buy those coins that they think will pump during the next bull run. It's a matter of their choice and every news that a whale does this.

It will be on tabloids and the front pages, nothing new for this a typical move that we see most of the time.

I noticed this too. There has been a lot of buy pressure for MATIC and ICP recently.