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<p>Polygon, the Ethereum scaling solution, has seen its native token MATIC pump 54% in market capitalization over the past 3 weeks. The price of MATIC has steadily risen from around $0.50 back to the $0.80 level during this period.</p>
<p>According to <a href="https://twitter.com/santimentfeed/status/1722486477433774460" target="_blank" rel="noopener noreferrer nofollow">on-chain analytics firm</a> Santiment, this price increase has been supported by significant whale accumulation of the token. Wallets holding between 100,000 to 10 million MATIC have been scooping up the asset over the past two weeks.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="617" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-1024x617.png" alt="" class="wp-image-373559" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-1024x617.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-300x181.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-767x462.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-1536x926.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-2048x1234.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-249x150.png 249w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-581x350.png 581w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197-788x474.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-197.png 1749w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>Polygon aims to improve Ethereum’s transaction speeds and reduce fees via an interconnected network of sidechains. The protocol has proven popular, now processing over 2 million transactions per day. The utility and adoption Polygon enables continues driving demand for its MATIC token.</p>
<h2 class="wp-block-heading" id="whales-keep-pushing-price-up">Whales Keep Pushing Price Up</h2>
<p>The broader cryptocurrency market recovery in the recent weeks has also provided tailwinds. But MATIC’s outperformance with a 54% market cap expansion in just a few weeks points to strong fundamental drivers. Whales spotting this potential appear keen to accumulate MATIC. Their significant purchases have helped sustain the price uptrend amid overall volatility.</p>
<p>Read also:</p>
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<p>Now with signs of recovery emerging, MATIC seems poised to capitalize. Its discounted prices in recent months gave whales an opportunity to stock up. With whale wallets still actively buying up available MATIC, supply dynamics support the ongoing rally.</p>
<p>Polygon’s strong real-world usage also gives MATIC tangible value drivers. Its maturing ecosystem makes this altcoin one of the top contenders to sustain momentum if the bull market endures.</p>
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<p>The post <a href="https://captainaltcoin.com/polygon-market-cap-surges-54-in-3-weeks-as-whales-continue-to-accumulate-matic/" rel="noopener noreferrer nofollow">Polygon Market Cap Surges +54% in 3 Weeks as Whales Continue to Accumulate MATIC</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Polygon Market Cap Surges +54% in 3 Weeks as Whales Continue to Accumulate MATIC

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