Large Whale Transfers of SOL and MATIC: Will Prices Surge?

Sol Matic
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Recent market data reveals that a large cryptocurrency holder has moved significant amounts of SOL and MATIC to different cryptocurrency exchanges (CEXs) and wallets.

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Whale Alert, a prominent blockchain tracking platform, shared market data indicating that a substantial amount of 282,695 SOL was moved from an unidentified wallet to another address on Binance.

Additionally, a massive transaction was observed, involving the transfer of 47,000,000 MATIC tokens to the centralized cryptocurrency exchange Coinbase, drawing attention from traders and investors.

Whale Shuffles Millions of MATIC Tokens

According to data from Whale Alert, a large amount of MATIC tokens were transferred between different cryptocurrency wallets:

An unknown wallet, identified as 0xCD531Ae9EFCCE479654c4926dec5F6209531Ca7b, moved 20 million MATIC tokens to another wallet, 0x8298c308Aec5F085b41EEE5849261ADd6A64B745, on Coinbase.

In a series of transactions, the same wallet, 0xCD531Ae9EFCCE479654c4926dec5F6209531Ca7b, transferred an additional 27 million MATIC tokens to another wallet linked to Coinbase, totaling 47 million MATIC tokens.

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Additionally, another significant transaction involved the transfer of 37,101,422 MATIC tokens from one unknown wallet, 0xD11b5CB1E37397133dEf48c3A871b0Fdd539FE33, to 0xCD531Ae9EFCCE479654c4926dec5F6209531Ca7b.

The recent large transactions by whales appear to coincide with a recent increase in the price of MATIC, which is the native cryptocurrency of Polygon (formerly Matic Network). After announcing a rebrand to Polygon, the MATIC token took a moment to pause. However, at the time of writing, the MATIC token’s price has risen by 6.75%, reaching $0.6734. Additionally, the trading volume has seen a significant increase of 55.98%, while the market cap has experienced slight gains, up by 6.79%.

Whale Moves Significant Amount of SOL Tokens

An unknown wallet, known by its address 3ADzk5YDP9sgorvPSs9YPxigJiSqhgddpwHwwPwmEFib, recently moved a substantial amount of SOL tokens to Binance, the world’s largest cryptocurrency exchange.

In a series of transactions, the same wallet conducted two large transfers to Binance. The first transfer included 249,999 SOL tokens, valued at $10,799,103. The second transfer, which occurred on the same day, consisted of 282,695 SOL tokens with a value of $11,969,243.

These significant whale transfers coincide with a recent surge in SOL’s price. Market data indicates that Solana’s price increased by 10.82% within the last 24 hours. Additionally, trading volume saw a substantial uptick of 138.42%. This has garnered the attention of both investors and traders, who are closely monitoring the token’s potential.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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