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Ethereum Whale Buys MATIC worth $17 Million After EIP-1559 Upgrade -Breaking

by Mike Robinson

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Ethereum Whale Purchases MATIC Worth $17 Million after EIP-1559 Upgrade

Polygon (MATIC), after posting gains in excess of 12,000%, has become one of the most popular cryptocurrencies. Polygon (MATIC) has a stellar record of gains and is ranked among the top layer-2 scaling options, which increases its appeal for investors.

WhaleStats received multiple reports that whales in the highest numbers were purchasing Polygon (MATIC), as a result of which the year ended.

WhaleStats reported that the average MATIC purchase by the top 1000 ETH whales in January was $530,000.

Polygon, the new Ethereum Whales, is gaining popularity (MATIC).

The new on-chain data shows that Ethereum whales are now back to buying large amounts of MATIC tokens. After the Layer-2 Scaling Solution implemented EIP-1559 on its Mainnet, the report was published.

EIP-1559 introduces a token burning protocol for Polygon (MATIC). MATIC, which is a fixed supply token means that reducing tokens will lead to a deflationary pattern, expected to have a positive effect on MATIC.

According to data from on-chain, the 157th largest Ethereum whale has bought 7,483,202 MATIC. It is worth $17.4million in seven transactions. After the upgrade, purchases began.

WhaleStats has determined that Polygon (MATIC), the most-traded crypto, is Polygon.

MATIC 24 Hours Price Chart Source: Tradingview

Flipside

  • MATIC saw an expected uptrend but has seen a massive 5% decrease in the past 24 hours

Why you should care

After its successes in 2021, many people are turning to layer-2 scaling. MATIC will gain more market share in 2022.

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