3 Million MATIC Tokens Bought By Whale Amid Market Drop

As reported by Whale Statistics, a whale in 297th of the top 1,000 ETH wallets it tracks has bought nearly three million MATIC tokens in three separate trades. MATIC price fell to a low of $1.30 on Jan. 24 before making an oversold jump. At the time of publication, MATIC was trading at $1.63, up 4.40% in the past 24 hours.

According to the blockchain data tracker, the mysterious buyer made the first major transaction of 1,000,000 MATIC tokens, or $1,660,149 worth about six hours ago. The two trades of 1,159,995 and 845,778 MATIC tokens, or $1,925,592 and $1,403,991 worth, followed within an hour.

MATIC also remains in the top 10 tokens purchased and the most traded tokens at the time of writing, according to WhaleStats.

Polygon Unveils New Milestones

Polygon EIP 1559 went live on January 18, ensuring Polygon’s proof of stake remains fully compatible with Ethereum while introducing fee and burn mechanisms. As part of the implementation, Polygon Notes that the PoS block size has gone from an average of 20 MB to 10 MB.

Ryan Wyatt, head of gaming at YouTube, recently announced that he would be leaving the video-sharing platform in February to join Polygon Studios as CEO.

Polygon Studios is the gaming and non-fungible tokens (NFTs) arm of the network. Polygon (MATIC) plans to invest $100 million in projects led by its subsidiary, which launched in July.

Polygon also announced the release of the Initial Polygon Hermez 2.0 zkEVM documentation. Polygon Hermez is an open-source ZK-Rollup optimized for secure, low-cost and useful token transfers on the wings of Ethereum.

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