{"id":517871,"date":"2023-01-28T08:35:56","date_gmt":"2023-01-28T13:35:56","guid":{"rendered":"https:\/\/ktsl888.com\/?post_type=press_release&p=517871"},"modified":"2023-01-28T08:07:43","modified_gmt":"2023-01-28T13:07:43","slug":"matic-gains-over-by-20","status":"publish","type":"press_release","link":"https:\/\/ktsl888.com\/press-releases\/matic-gains-over-by-20\/","title":{"rendered":"MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023"},"content":{"rendered":"

With the crypto market on a tremendous bullish run, several assets, especially altcoins, have been recording massive price gains. MATIC, an ERC-20 token and native cryptocurrency of the Polygon network, has been one of the tokens in the mix of this action, gaining by 49.33% since the beginning of 2023.<\/span><\/p>\n

MATIC\u2019s price growth has been consistent, making it one of the best-performing tokens of 2023. In the last 72 hours, data from CoinMarketCap<\/a> shows that the token has rallied by 20.43%, with its market price moving from $0.93 to its current value of $1.12.\u00a0<\/span><\/p>\n

While there are many possible explanations for this impressive price increase, Santiment, a popular on-chain analytics firm, has presented quite an interesting report.\u00a0<\/span><\/p>\n

Via their official Twitter account, Santiment reports<\/a> that on the morning of Jan. 25, just before MATIC embarked on its current price rally, the Polygon network recorded a transfer of 59 million MATIC tokens worth $56 million between two wallets, marking the crypto asset’s biggest whale transaction so far in 2023.\u00a0<\/span><\/p>\n

\"MATIC\"<\/p>\n

According to Santiment, this massive asset movement is the main reason why Polygon’s native coin has surged in value over the last few days. <\/span><\/p>\n

They tweeted saying:\u00a0<\/span><\/p>\n

\u201c<\/span>On Wednesday, the largest<\/span> $MATIC<\/span><\/a> transfer of the year occurred just prior to this +20% pump. This address had already been holding 585k<\/span> #Ethereum<\/span><\/a> as well. Often times, just one or a few whale addresses is all it takes, like in this<\/span> #Polygon<\/span><\/a> example\u201d.\u00a0<\/span><\/p>\n

At the time of writing, MATIC has gone up by 2.86% in the last 24 hours, trading at $1.12, with a daily trading volume of $842.36 million. Based on more data <\/a>from CoinMarketCap, the crypto token remains the 10th biggest cryptocurrency, with a total market cap of $9.75 billion.\u00a0<\/span><\/p>\n

\"MATIC\"<\/p>\n

MATIC trading at $1.1211 | Source: MATICUSD Chart on Tradingview.com<\/a><\/span><\/p>\n

Related Reading: Crypto-Friendly Bank Silvergate Suspends Dividend Payouts<\/a><\/div>\n

What Else Could Be Behind MATIC\u2019s Price Rise?<\/h2>\n

Aside from the report from Santiment, another possible cause for MATIC\u2019s price increase is the high level of anticipation<\/a> surrounding the roll-out of the zkEVM network update. <\/span><\/p>\n

According to a tweet<\/a> by Polygon co-founder Sandeep Nailwal on January 16,\u00a0 the launch of the zkEVM Mainnet is expected soon, with a date already picked – although awaiting the public announcement.<\/span><\/p>\n

The zkEVM network update is expected to enable the Polygon network to become compatible with all smart contracts deployed on the Ethereum chain. This excites the entire Polygon community as the existing Zk-rollups in the network cannot execute some complex operations required for the efficient operations of some Ethereum-based smart contracts.<\/span><\/p>\n

Related Reading: Former FTX Boss Sam Bankman-Fried Using Privacy Messaging App Signal<\/a><\/div>\n

MATIC Price Prediction For 2023<\/h2>\n

According to the 2023 price predictions by DigitalCoinPrice<\/a>, MATIC could trade as high as $2.46 before the year runs out, indicating a plausible 119.64% increase from its current market price.\u00a0<\/span><\/p>\n

Bitnation, another highly-rated prediction site, is also predicting positive price growth for MATIC in 2023. Based on their price forecasts,<\/a> the ERC-20 token is expected to attain a peak price of $2.02 before the end of the year.\u00a0<\/span><\/p>\n

That said, it is worth stating that these predictions are not set in stone, and MATIC could as well have a rather turbulent year. It is advisable for investors to conduct extensive research and consult financial market experts before making any investment decision.\u00a0<\/span><\/p>\n

Featured Image: istockphoto, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

With the crypto market on a tremendous bullish run, several assets, especially altcoins, have been recording massive price gains. MATIC, an ERC-20 token and native cryptocurrency of the Polygon network, has been one of the tokens in the mix of this action, gaining by 49.33% since the beginning of 2023. MATIC\u2019s price growth has been consistent, making it one of the best-performing tokens of 2023. In the last 72 hours, data from CoinMarketCap shows that the token has rallied by 20.43%, with its market price moving from $0.93 to its current value of $1.12.\u00a0 While there are many possible explanations for this impressive price increase, Santiment, a popular on-chain analytics firm, has presented quite an interesting report.\u00a0 Via their official Twitter account, Santiment reports that on the morning of Jan. 25, just before MATIC embarked on its current price rally, the Polygon network recorded a transfer of 59 million MATIC tokens worth $56 million between two wallets, marking the crypto asset’s biggest whale transaction so far in 2023.\u00a0 According to Santiment, this massive asset movement is the main reason why Polygon’s native coin has surged in value over the last few days. They tweeted saying:\u00a0 \u201cOn Wednesday, the largest $MATIC transfer of the year occurred just prior to this +20% pump. This address had already been holding 585k #Ethereum as well. Often times, just one or a few whale addresses is all it takes, like in this #Polygon example\u201d.\u00a0 At the time of writing, MATIC has gone up by 2.86% in the last 24 hours, trading at $1.12, with a daily trading volume of $842.36 million. Based on more data from CoinMarketCap, the crypto token remains the 10th biggest cryptocurrency, with a total market cap of $9.75 billion.\u00a0 MATIC trading at $1.1211 | Source: MATICUSD Chart on Tradingview.com Related Reading: Crypto-Friendly Bank Silvergate Suspends Dividend Payouts What Else Could Be Behind MATIC\u2019s Price Rise? Aside from the report from Santiment, another possible cause for MATIC\u2019s price increase is the high level of anticipation surrounding the roll-out of the zkEVM network update. According to a tweet by Polygon co-founder Sandeep Nailwal on January 16,\u00a0 the launch of the zkEVM Mainnet is expected soon, with a date already picked – although awaiting the public announcement. The zkEVM network update is expected to enable the Polygon network to become compatible with all smart contracts deployed on the Ethereum chain. This excites the entire Polygon community as the existing Zk-rollups in the network cannot execute some complex operations required for the efficient operations of some Ethereum-based smart contracts. Related Reading: Former FTX Boss Sam Bankman-Fried Using Privacy Messaging App Signal MATIC Price Prediction For 2023 According to the 2023 price predictions by DigitalCoinPrice, MATIC could trade as high as $2.46 before the year runs out, indicating a plausible 119.64% increase from its current market price.\u00a0 Bitnation, another highly-rated prediction site, is also predicting positive price growth for MATIC in 2023. Based on their price forecasts, the ERC-20 token is expected to attain a peak price of $2.02 before the end of the year.\u00a0 That said, it is worth stating that these predictions are not set in stone, and MATIC could as well have a rather turbulent year. It is advisable for investors to conduct extensive research and consult financial market experts before making any investment decision.\u00a0 Featured Image: istockphoto, chart from Tradingview.com<\/p>\n","protected":false},"author":581,"featured_media":517872,"parent":0,"template":"","class_list":["post-517871","press_release","type-press_release","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nMATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023 | NewsBTC<\/title>\n<meta name=\"description\" content=\"With the crypto market on a tremendous bullish run, several assets, especially altcoins, have been recording massive price gains. 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