Ethereum

United

Polygon

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Ethereum scaling solution <a href="https://u.today/polygon-matic-skyrockets-1453-in-whale-activity-climb-what-next" rel="noopener noreferrer nofollow">Polygon (MATIC)</a> has recently seen a substantial increase in large transaction volume, which is indicative of whale activity.
According to <a href="https://app.intotheblock.com/coin/MATIC" rel="noopener noreferrer nofollow">IntoTheBlock</a>, Polygon (MATIC) is reporting $152.75 million in large transaction volume in the last 24 hours, representing a 745.3% surge.
This large transaction volume surge coincides with the excitement surrounding the launch of Ethereum ETFs in the United States, a key milestone for the cryptocurrency community.
Ethereum exchange-traded funds began trading in the United States on Tuesday, putting the world's second-largest cryptocurrency in a vehicle popular with many professional investors and advisors.
U.S. exchange-traded funds that invested directly in Ethereum earned a net of $107 million on their first day of trading.
BlackRock Inc.'s iShares Ethereum Trust had the greatest net inflow of the cohort at $267 million, followed by Bitwise's Ethereum Trust at $204 million and the Fidelity Ethereum Fund at $71 million.
<h2 id="ethereum-positive-sentiment-spills-over-to-polygon">Ethereum positive sentiment spills over to Polygon</h2>
Over $1 billion in shares were traded across the nine Ethereum ETFs, which launched six months after U.S. authorities approved the first U.S. spot Bitcoin ETFs. This year, the latter received a net influx of more than $17 billion.
Owing to this milestone, Ethereum has seen a massive surge in whale activity, a sentiment that has spilled over to Polygon.
According to on-chain analytics firm Santiment, the launching of Ethereum's nine new spot ETFs has a demonstrable impact on whale behavior. Since July 17, the number of ETH transactions above $100,000 in value has been 64% greater than the number of BTC transfers and 126% higher than the number of USDT (ETH) transfers.

Polygon (MATIC) Skyrockets 743% in Whale Activity Amid Ethereum ETF Buzz

Table of Contents

U_Today

Другие статьи, опубликованные 24 июл. 2024 г.

Vanar Launches NFT Marketplace and Sponsors Google Cloud Startup Event

Shiba Inu’s Post-Burn Slump: Why a Surge Might Be Near

Top Investment Opportunities: Best Crypto Coin Presales to Watch

Mt. Gox Bitcoin Saga Continues: Sends $2.47B to Unidentified Wallet

BitForex Reemerges After Vanishing with $57 Million

Agaswap $15000 Volume In Last 30 Days Join Our Moonbound Growth!

Join our free newsletter for daily crypto updates!