This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Polygon’s native coin, MATIC, has seen a surge in whale transactions over the past 30 days, leading to significant price growth for the cryptocurrency and its ecosystem. Whale transactions, which are classified as transactions over $100,000, have increased by a staggering 3,800% within the Polygon network. This surge in whale activity suggests active buying and selling from institutional and large-scale investors. The presence of major players in the market can greatly influence the dynamics of a cryptocurrency asset, and this is one of the reasons why MATIC’s price has experienced a significant uptick in recent weeks. In addition to the price increase, MATIC’s market capitalization has also seen a significant rise, recording a 62% increase in the past 30 days. Last week, MATIC surpassed the $0.75 price mark, indicating a more than 50% increase in price surge over the last 20 days. This strong performance suggests that MATIC could potentially reach the $1 mark by the end of the year. Despite experiencing a 33% year-to-date decline in September, MATIC quickly recovered and is now in a profit-making position. As of the time of writing, MATIC’s price is $0.87, with a 24-hour trading volume of $943,748,349 and a market capitalization of $943,748,349. The recent partnership between web3 gaming platform Immutable and Ubisoft could also have a significant impact on MATIC’s price. The platform’s establishment of a zero-knowledge scaling solution for the Ethereum community, powered by Polygon, has the potential to further boost MATIC’s value.