One of the top ETH wallets tracked by WhaleStat purchased three million MATIC tokens in multiple transactions amid an ongoing market sell-off.
The first transaction by the deep-pocketed investor, ranked 297th among WhaleStat top 1,000 ETH addresses, was 1,000,090 MATIC tokens worth about $1,660,149.
Two other purchases of 1,159,995 and 845,778 tokens worth $1,925,592 and $1,403,991 followed after an hour.
MATIC is currently trading at $1.63, a 4.40% increase in the past day. The token ranks among the top 10 most bought digital assets and the most traded token.
The news follows the appointment of YouTube’s head of gaming, Ryan Wyatt, as the new Chief Executive Officer at Polygon Studios.
Polygon launched EIP 1559 upgrade on January 18, reducing the block size and adding a fee-burning mechanism.
The protocol has also announced the launch of Initial Polygon Hermez 2.0 XKEVM Documentation, a permissionless ZK-Rollup.
Source: Whalestats