MATIC Price Declines, and Here’s What Might Stop It per WhaleStats Data

AnalysisMATIC Price Declines, and Here's What Might Stop It...


As per WhaleStats data, MATIC is one of the top 10 purchased tokens in the last 24 hours as the crypto market dips. The market is experiencing a slight dip in the last 24 hours as investors weigh the possibility of a March rate hike after Wednesday’s FOMC minutes. The MATIC price is experiencing a dip like the rest of the market.

Top Ten Purchased Tokens, Courtesy: WhaleStats

In the last 48 hours, MATIC has seen significant buying from whales. The most recent was that of an Ethereum whale ranking the fourth largest among the 1000 wallets tracked by WhaleStats, acquiring 750,000 MATIC tokens, or $1,342,500 worth.

Whale activity has been linked to a significant impact on cryptocurrency markets, including digital asset prices and market capitalization. When a large buy order is placed, the price of a particular cryptocurrency might skyrocket because it signals to the market that the asset is in greater demand.

MATIC price action

MATIC is teetering at $1.77, down 1.05% in the last 24 hours. IntoTheBlock analytics data shows that MATIC sits on top of a significant support barrier. The region between $1.55 and $1.66 may act as a backstop to further losses as more than 46,000 addresses previously purchased 3.67 billion MATIC at this demand zone.

In recent developments, Polygon recently deepened its integration with Filecoin. As part of the partnership, Filecoin and Polygon began to create grants and hackathons to assist development teams and NFT projects that use Polygon blockchain to integrate with Filecoin and InterPlanetary File System (IPFS).



Learn more

Latest news

Gensler Says SEC Is Fine Going After Crypto With Its Current Authority

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), isn’t waiting for new powers from...

The Case For Earlier Investments In Legal Diversity

Armin Salek, a Texas-based social entrepreneur, attorney, and teacher, is giving first-generation high schoolers hands-on experience using the...

Elon Musk in danger of losing world’s richest person title to Bernard Arnault

Elon Musk is in danger of losing his long-held title of world’s richest individual on Wednesday morning following...

Elrond (MultiversX) Lists on Top US Exchange Coinbase: Details

Tomiwabold Olajide EGLD trading now available to over 108 million users in over 100 countries EGLD, the native token underlying...

M&T Bank Stock Falls to Lowest Level Since 2021

M&T Bank Stock Falls to Lowest Level Since 2021 Learn more

Family And Friends Investing In Your Business? Nine Tips To Keep Things Cordial

Making your investors happy can always be a tricky task, but the situation can grow even more complex...

Must read

Gensler Says SEC Is Fine Going After Crypto With Its Current Authority

Gary Gensler, the chairman of the U.S. Securities...

The Case For Earlier Investments In Legal Diversity

Armin Salek, a Texas-based social entrepreneur, attorney, and...

Elon Musk in danger of losing world’s richest person title to Bernard Arnault

Elon Musk is in danger of losing his...

You might also likeRELATED
Recommended to you