Polygon (MATIC), Price News: Polygon (MATIC), buoyed by the number of web 3.0 projects that it is involved in saw a significant increase in adoption in 2022. MATIC has a market cap of $8.07 million and is ranked 10 among cryptocurrency cryptocurrencies. It appears that Polygon whales may be at work when MATIC’s price is significantly lower than the November 2022 highs. Polygon is a decentralized Ethereum scaling platform that allows developers to create scalable, user-friendly dApps.
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The crypto market is still reeling from the FTX collapse. However, whales are accumulating some of the most promising tokens. Recent reports suggested that Shiba Inu’s (SHIB), could be in a good position to see a price rise in the near future. The top 500 Ethereum (ETH), whales hold a large share of the total supply of the cryptocurrency. Similar results were seen on chain data, which showed a large transfer of MATIC to an unknown address. MATIC was the subject of a Whale Alert.
“13,428,828 MTIC ($12,343,023) – transferred from an unknown wallet to Coinbase
Diverse factors point to a potential high bullish momentum for MATIC’s price. The cryptocurrency could soon surpass the $1 mark if the strong showing continues. Recently, the cryptocurrency broke through the $0.87 barrier. According to CoinMarketCap, Polygon (MATIC), the price of Polygon (MATIC), is $0.9264 as of writing. This price has risen 0.71% in 24 hours. It remains to see how cryptocurrency will fare at the end of 2022.
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Also read: Ethereum Price Sets the Stage for a Bullish Rally Towards $13,350
Polygon has joined forces with JP Morgan, a Wall Street bank, in a significant development that could open the door to institutional adoption. The blockchain network was used to execute a trade by the bank.

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Also read: XRP News – Whales Move 143 Million XRP; Is Ripple Winning the Lawsuit?

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