MATIC Whales Took Action

After MATIC announced the coin burn, the MATIC whales took action.

MATIC whales purchased around 5 million MATIC tokens following the announcement of the burning mechanism. According to data recently shared by WhalesStats, after the coin burn announcement by Polygon (MATIC), whales started to take action and bought MATIC worth about $14 million. Whales purchased 5 million MATIC tokens in the purchase move made in four different transactions. This wallet purchased 2,490,000 MATIC tokens worth approximately $4,631,400 less than 24 hours ago. On December 14, Polygon announced the launch of EIP-1559 to promote the burning of MATIC tokens and better fee visibility. This process was then implemented on the Mumbai testnet. Following these developments, there was a significant 112% increase in transactions on the MATIC network. At the time of our news, Polygon (MATIC) was trading at $2.15, up 15%.