It’s been revealed that the big money investors are accumulating some altcoins and this is worth mentioning.
According to the latest reports, there are some important crypto investors who are accumulating the scaling solution Polygon (MATIC), Loopring (LRC), and two other small-cap altcoins.
It’s also worth noting that this is happening amid the rebound across the digital asset market.
It’s been revealed that new data from WhaleStats shows that Polygon has replaced LINK as the number one traded token among the richest Ethereum holders in the last 24 hours. This move is taking place while MATIC enjoys healthy price rallies.
The online publication the Daily Hodl is noting that Ethereum whales were spotted on Friday buying up MATIC periodically in million-dollar purchases.
“One Ethereum whale, ranked as the fourth biggest in existence, bought 2,838,000 MATIC for approximately $4.73 million. In another transaction, one whale bought $2 million worth of MATIC tokens.”
The notes continued and revealed the following:
“A third whale purchased $1.5 million worth of MATIC in a separate transaction.”
Looking at the list of the top tokens that Ethereum whales have bought the most in the last seven days, MATIC is placed at number five with an average purchase amount of $41,220.
Investors might be overlooking Ethereum
At the beginning of this month, we were revealing the fact that Nicholas Merten just said that investors seem to be overlooking Ethereum these days.
The online publication the Daily Hodl notes that the host of DataDash just said that Ethereum’s Bitcoin pair (ETH/BTC) is flashing signals that suggest it is nowhere near the beginning of a bear market.
“If we take a look at the broader trend here against Bitcoin – and again this is probably one of the biggest key signals that we are not in a bear market – that this is not a time per se to panic.”
Stay tuned for more news.
