Sharp Increase in Whale Activity on Dogecoin (DOGE) and Polygon (MATIC)

Swiss crypto behavior analyzer Santiment reveals three altcoins heavily favored by whales

Dogecoin (DOGE) adopted as a payment option by French Riviera yacht charterers Polygon (MATIC) releases a major 'zkEVM' update for Ethereum (ETH) scaling Statistics provided by crypto behavior research platform Santiment show that transactions worth $100,000 or more have increased significantly since July 18. The increase occurred when Bitcoin (BTC) was priced at $22,275.42. The trend that started on July 18 at 19:00 GMT continues today as the crypto market is finally enjoying green weeks. While many #altcoins experienced a solid recovery in market capitalization in July, we can see the amount of whale trades worth $100k+ starting to increase. The $DOGE, $MATIC and $UNI networks have seen noticeable increases in these large transactions. The Swiss crypto analytics company highlighted three specific altcoins in its research summary. All of them recorded massive increases in their prices:

• Uniswap (UNI) - 33.9% weekly price increase
• Dogecoin (DOGE) - up 23.2% week over week
• Polygon (MATIC) - up 69.6% for the week
• Polygon Launches Scaling Solution for ETH Today

Polygon (MATIC) has had a lot of success recently, right after Disney included the Polygon blockchain in the Disney Accelerator 2022 edition. This means a lot for Polygon (MATIC) as it is the only crypto company nominated this year. Polygon (MATIC), previously known as Matic Network, reached another milestone by partnering with Coca-Cola (NYSE:KO) in their Pride NFT series. Today, Polygon officially launched the zero-knowledge Ethereum (ETH) virtual machine Polygon zkEVM. It will use an innovative cryptography method called 'zero-knowledge proof', which is estimated to be faster than VISA's payment gateway. The project was unveiled in July 2021, with blockchain developer Jordi Baylina calling the highly anticipated update 'the main focus of the project'.

We are proud to announce a giant leap forward for Ethereum scaling and ZK innovation. meet Polygon #zkEVM, the first EVM equivalent ZK L2. today we're releasing a complete fully open-source implementation and we're just getting started.

- Polygon - MATIC (@0xPolygon) July 20, 2022