Key Points: Avatar, the “whale” also known as Avatar, has the fifth-largest volume of MATIC in the entire world, with 22.37 million MATIC.
Avatar is being marketed as a GameFi project. It features a staking mechanism via a magic box where players can voluntarily stake tokens for between 24 hours and 181 days.
Avatar, a supposed Multi-Level (MLM) GameFi project, has lately been found to be the world’s 5th biggest MATIC holding “whale”.According to Wu Blockchain, the Avatar project’s address 0xc7728354f9fe0e43514b1227162d5b0e40fad410 has acquired 22.37 million MATICs in recent days, overtaking Binance’s Hot Wallet2 as the world’s fifth largest MATIC holder. This wallet has held 100,000 MATIC gas fee in the last 7 days, increasing Polygon’s average gas level by almost 700 gwei. The project’s total transaction volume surpassed 117,000 on February 12. Some sources claim that Avatar is based in China and has a reputation for multi-level company strategies (MLM). Participants are awarded according to how many people they successfully recommend. Avatar, meanwhile, advertises itself as a GameFi Project. It offers a staking mechanism via a magic box in which users can voluntarily stake tokens for 24 hours up to 181 days. This MLM scheme is said pay a 1% APR every day. This revelation has caused alarm in the neighborhood. This is because the anonymity of crypto has led to an increase in ponzi schemes over the years. These initiatives have become “whales” and are fully capable of pricing. Avatar is a name investors should be paying attention to. China busted the PlusToken Ponzi scheme in 2020, seizing up 4.2 billion USD worth of cryptocurrencies. MATIC is presently trading at $1.18, down more than 8% in the last 24 hours, according to Binance statistics.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuChubbiCoincu NewsTags: cryptomarketMATICPolygon