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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Whales Actively Accumulating Polygon (MATIC) And Cardano (ADA), Should You Join Them?

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
MATIC

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Reportedly, whales have shown interest in altcoins such as Cardano (ADA), Dogecoin (DOGE), and Polygon (MATIC) over the past few days as a large amount of these tokens has been purchased and moved from one wallet to another across several transactions. 

Whales are described as the largest investor of an asset. They have always had a significant role in the crypto market, given their immense buying power and capacity to influence price action. 

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Polygon MATIC MATICUSDT Price

MATIC Spikes As Ethereum Whales Show Interest, Buying Over 2 Million Tokens

2 years ago

Whales Accumulate MATIC, ADA, And DOGE

Huge transactions of MATIC have been taking place on the blockchain. According to a Whale alert report on Thursday, a trade of 38,000,000 MATIC, worth more than $50,00,000, was executed from an unknown wallet to an anonymous wallet today.

Ignoring the downside trend in the market, among large crypto assets, MATIC has seen a 9% profit in a week, adding over $1.5 billion to its market cap over this period. So far, MATIC has been up nearly 3% in the last 24 hours, with a high of $1.34 over the same period.

MATIC price chart on Tradingview
MATIC’s price is moving upwards on the daily chart. Source: MATICUSDT Tradingview.com

MATIC isn’t the only digital asset enjoying the whales’ blessing; Cardano’s native token ADA is also on their accumulation list; WhaleStats reported earlier today that ADA is the most traded token among the top 100 Binance Smart Chain (BSC) whales. The crypto asset is one the most used smart contracts for the 1000 most prominent BSC whales.

Per a report from on-chain analytics firm Santiment on Wednesday, Cardano’s large transactions hit a 12-week high in the early months of 2023, with over $100,000 worth of transactions being executed frequently. While its ecosystem has continued to grow in recent months, ADA has also surged since the beginning of the year.

ADA has spiked from the $0.25 price range seen late last year to as high as $0.38 at the time of writing. The asset still ranks 8th with a global market dominance of 1.2% and a market capitalization of $13.4 billion. 

ADA price chart on TradingView
ADA’s price is moving upwards on the daily chart. Source: ADAUSDT Tradingview.com

ADA currently trades above $0.35, down by 2% in the last 24 hours and by 87% from its all-time high of $3.09 in September 2021. 

DOGE Rivaling With Other Altcoins

While MATIC and ADA have been thriving, Dogecoin (DOGE) appears to be giving both assets a run for their money. According to WhaleStats, DOGE flipped ADA for the most traded token among the top 100 BSC whales in the last 24 hours.

Related Reading

Dogecoin

Dogecoin Gearing To Bounce Back Against Bitcoin – Does Doge Have The Energy?

1 year ago

Regarding position, DOGE has flipped Polygon to rank 9th as the largest cryptocurrency by market cap. DOGE trades with a market cap of $12.09 billion as opposed to Polygon’s lower market cap of $11.6 billion. 

DOGE price chart on Tradingview
DOGE’s price is moving upwards on the daily chart. Source: DOGEUSDT Tradingview.com

Compared to Cardano, DOGE is having a hard time outshining ADA as DOGE ranks lower than ADA, obtaining the 8th position of the largest cryptocurrency by market cap. ADA’s market cap valuation is worth $13.4 billion.

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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