Discover the latest surge in the MATIC price and whether it’s the right moment to seize the opportunity and dive into the market.
In the middle of the instability of the crypto market, some recent investor inflows are witnessed, and Bitcoin and other altcoins are struggling hard to maintain their stability. Among these coins comes MATIC, Polygon’s native token, ignoring the markets’ volatility, just showing a downfall of 2% in the last 24 hours.
Source: Coinmarketcap
As per the latest data collected from Coinmarketcap, MATIC price is $0.66, making a decrease of 25.85% from the last week.
MATIC Price: Whale Strategies and Market Impact
The crypto world is witnessing a significant sentiment of bearishness in the market, despite this trend, some seasoned investors are taking advantage by booking MATIC at a low price.
Observers in the market note whales booking a significant amount of MATIC tokens, totaling around $2 million. This trend further shows an uptick in wallets holding altcoins ranging from 1000 to 10 million coins.
Which altcoins are purchased by the whales after a significant price drop? We noticed a fresh wallet withdrew $17.43M #altcoins from #Binance in the past 3 hours, including:
48,922 $AVAX($1.86M)
621,003 $FET($1.45M)
5.14M $GRT($1.44M)
1.9M $MATIC($1.41M)
532,444 $OP($1.29M)
135,751 $RNDR($1.26M)… pic.twitter.com/peeRi3E3nR
— Lookonchain (@lookonchain) April 15, 2024
Multiple whales grab this opportunity, witnessing a total of $100 million in purchasers in this dip.
Source: Tradingview
Whales’ Confidence Fuels Bullish Sentiment for MATIC Price
Big Whales maintain their hope on MATIC, as recent data reveals that more than 50% of the large holdings on the Binance exchange are long. This gives a sense of confidence that MATIC prices will surge in the short term.
The confidence of investors arises from their belief in the solid foundations of MATIC and its position within the Polygon ecosystem.
After the drop in MATIC price, increasing negative feedback surrounds the coin. These sentiments of negativity impact retail investors, discouraging them from participating in the MATIC journey.
Source: Sentiments
Negative talk, especially on social media platforms, has the potential to influence market and investor behavior. Retail investors who are directly affected by online debates, will be careful while investing in MATIC, in the current negative scenario.
However, sentiment data shows a big movement in token accumulation in this volatile market. This platform provides more data about the movement of these whales, offering valuable information to market participants.
While the crypto market is shaking due to the Halving event, The MATIC price shows a bit of fluctuation. Whales are accumulating a downturn in the market to grab MATIC, showing confidence in its formation.
Although social media influencers are creating negativity about MATIC, whales are optimistic about seeing a bullish trend in the long run.
