Ali Martinez, a crypto analyst, has reported that the addresses holding 100,000 to 1,000,000 MATIC have acquired more than 20,000,000 MATIC since MAY 15, according to Santiment on-chain data. The MATIC was downtrending at the lowest of $0.476 on May 12 before entering its present consolidation.
Further, the WhaleStats data reports that MATIC has also ranked among the top 10 in trading volumes of the largest 500 ETH over the last 24 hours.
According to the reports, around 2,000 ETH are holding $118,390,533 MATIC. Moreover, MATIC has continued to trade in the range providing holders ample opportunity to accumulate.
Meanwhile, MATIC picked up a bit by 2.84% at $0.63 in line with the latest crypto market rebound. The break above $0.84 in any case, may imply a bottom reaching at $0.47 leading to upside gains.
Further, The customers will be now able to deposit and withdraw Polygon USDC- which will lead to easy payment acceptance and payouts. It also would permit off-ramps to fiat currency as and when desired.
Polygon is a Layer 2 scaling solution, which is designed to run decentralized applications (dAppa) developed for Ethereum. For instance, by May 2022, it had already explored more than 19,000 dApps and over 2.7 million active monthly wallets.
Users will be allowed to transfer and swap Polygon USDC to and from its native USDC counterparts among the eight blockchains that it supports currently.
They are named Algorand, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, and TRON.