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HomeNewsMATIC Price on the Brink: Polygon Whales Drive Surge, $1 Target Looms

MATIC Price on the Brink: Polygon Whales Drive Surge, $1 Target Looms

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  • Large investors buy 32 million shares of MATIC following its inclusion in Gemini, generating speculation of a price increase.
  • MATIC experiences a 4.52% rise in 24 hours, with expectations of reaching the $1 price driven by key strategies.

For Polygon, the recent acquisition of 32 million MATIC tokens by major investors has marked a crucial inflection point for the cryptocurrency. This remarkable accumulation of MATIC, which followed its inclusion on the Gemini exchange, has generated speculation about a potential increase in its value to reach the coveted $1 threshold.

Increase in MATIC Accumulation

On February 8, large investor activity at Polygon captured the market’s attention. Two notable transactions were especially noteworthy: the first, involving the transfer of 11.99 million MATIC, valued at $9.99 million, from Coinbase Institutional to an unknown wallet, and the second, even more shocking, with 20 million MATIC, valued at $16.66 million, moved from Polygon Staking to another enigmatic wallet.

This increase in activity coincides in a timely manner with Gemini’s inclusion of MATIC/GUSD in perpetual contracts. This event suggests that Gemini’s decision has spurred this heightened interest in MATIC.

Gemini Boosts Global Visibility

Gemini, a recognized cryptocurrency exchange, has expanded its offering by adding the MATIC/GUSD perpetual contract. This addition, accessible globally with the exception of the US, UK and EU, has attracted international attention, reaffirming Gemini’s commitment to promoting unrestricted access to cryptoasset trading.

Now, Gemini’s international platform enriches its portfolio with six perpetual contracts, adding to MATIC/GUSD, options such as SOL/GUSD and BTC/GUSD. This expansion consolidates Gemini as a reference point for cryptocurrency trading worldwide.

MATIC Price Dynamism

As a result of these developments, the price of MATIC has experienced a 4.52% rise in the last 24 hours, standing at $0.862 .

 

This advance is complemented by increases of 6.45% and 8.12% over the week and month, respectively. In addition, trading volume has increased by 10.11% to $284.23 million.

Against this backdrop, the Polygon community and investors remain expectant, anticipating whether these strategic developments could catapult MATIC towards the estimated $1 price in the near term.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
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