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Polygon [MATIC] enters accumulation phase, but all is not what it seems
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Polygon [MATIC] saw a significant increase in its demand of late. According to a tweet on 13 February, one particular address snapped up over 20 million tokens over the past few days, becoming one of the largest MATIC holding addresses.
<p lang=«en» dir=«ltr» xml:lang=«en»>The address 0xc7728354f9fe0e43514b1227162d5b0e40fad410 of a Chinese MLM project accumulated 22.37 million MATIC in a few days, surpassing Binance: Hot Wallet2 became the fifth largest MATIC holding address. This address has consumed 100,000 MATIC gas in the past 7 days.— Wu Blockchain (@WuBlockchain) February 13, 2023
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There was a lot of interest shown by other large addresses as well. According to WhaleStats, top Ethereum [ETH] whales accumulated $128 million worth of MATIC in their portfolios, making it their fourth most widely held crypto token.
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