• Large MATIC transactions worth more than $100k and $1 million increased significantly in December.
• MATIC’s supply in profit presented opportunities for buyers

Polygon [MATIC] made sizable gains of 7.77% in the last 24 hours of trading, joining the broader pump in the altcoin market.

At the time of publication, the crypto was exchanging hands at $0.8323, with double-digit gains of 10% over the month, AMBCrypto spotted using CoinMarketCap’s data.

Whales boost MATIC’s demand

The latest surge could be a handwork of influential whale investors. As per AMBCrypto’s analysis of Santiment’s data, large transactions worth more than $100k and $1 million increased significantly in December.

The activity particularly picked up this week, with more than 150 such transfers on the 20th of December. As evident, MATIC’s price has pushed higher since then.

Apparently, whales used these transaction to fill up their coffers. Since the beginning of December, a noticeable spike in addresses holding between 1,000 – 1 million coins was observed.

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Author: Aniket Verma

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