Whale Polygon (MATIC) Moves 55 Million Coins to Crypto Wallet

JAKARTA – In the crypto world, there is the term whale or whale which indicates ownership of crypto in large quantities. This time, two Polygon (MATIC) crypto whales are reported to have transferred ownership of the MATIC crypto to an unknown crypto wallet.

The move was made by the two whales this week when market conditions were consolidating. A few days earlier, developer Polygon announced it would launch a project called zkEVM (Zero Knowledge Ethereum Virtual Machine).

Whale movement tracking platform Whale Alert reported on Monday that an unknown wallet transferred 55 million MATIC worth more than $45.3 million to another unknown wallet. Then, a few days later, another crypto wallet address transferred 196 million MATIC worth about 158 million US dollars to another wallet.

Last July, Polygon, an Ethereum (ETH) scaling solution, launched a zero-knowledge proof (ZKP) technology that is fully compatible with the Ethereum Virtual Machine (EVM), called zkEVM. This week, the project announced the launch of the Polygon zkEVM Public Testnet, the first open-source zkEVM network, as reported by DailyHodl.

Polygon's whales weren't the only ones to make big strides earlier this week: On Monday, an unknown wallet moved 30 million XRP worth more than $14.9 million to crypto exchange Bitso, according to Whale Alert data. Later that day, an unknown second wallet sent 22 million XRP worth over 10.75 million US dollars to the Bitstamp crypto exchange.

At the time of writing, the Polygon MATIC cryptocurrency is trading at IDR 11,734 per coin. In the last 24 hours, the MATIC crypto has decreased by 4 percent. Meanwhile, in one week the price fell 9.4 percent, according to Coinecko's report.