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Polygon (MATIC) Whales Moves $200M Amidst Market Consolidation

It’s been just revealed that the crypto market is moving and showing exciting events these days amidst consolidation. Also, despite the massive volatility that we have seen in the market, the mass adoption of crypto continues to go great.

MATIC whales are moving

Two large Polygon (MATIC) whales are moving gigantic bags of MATIC this week as the crypto markets consolidate.

On Monday, an unknown wallet transferred 55 million MATIC worth more than $45.3 million to another unknown wallet, according to the crypto-tracking platform Whale Alert.

As the online publication the Daily Hodl notes, Polygon made an exciting announcement.

“In July, Polygon, an Ethereum (ETH) scaling solution, rolled out zero-knowledge proof (ZKP) technology that is fully compatible with the Ethereum Virtual Machine (EVM), called zkEVM.”

It’s also worth noting the fact that this week, the project announced the launch of the Polygon zkEVM Public Testnet, the first open-source zkEVM network.

AVAX and MATIC price predictions

An important crypto analyst issued warnings about some important altcoins.

The pseudonymous trader known as Altcoin Sherpa said recently that layer-1 blockchain Avalanche (AVAX) and Ethereum (ETH) scaling solutions Polygon (MATIC) and Optimism (OP) are primed to see downswings.

The analyst stated that bearish market conditions could push AVAX below $13 before it can hope for a recovery.

Altcoin Sherpa also addressed MATIC. He said that he expects the digital asset to see a sizeable dip before settling near $0.60 close to the end of the year.

“MATIC: Higher time frame idea for this one… looking at $0.60.”

Starbucks and MATIC

Starbucks Coffee Company turned to Polygon to launch the collectible digital stamps as part of its Web3 program called Starbucks Odyssey.

Brady Brewer, Starbucks’ executive vice president and chief marketing officer, stated the following:

“For the first time we are connecting our Starbucks Rewards loyalty program members not just to Starbucks, but to each other.”

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