According to reports, Ethereum whales have been buying more Polygon (MATIC), and LINK (Chainlink), in the past 18 hours. Both digital currencies are experiencing an unprecedented surge in demand, particularly within the last 24hrs.
WhaleStats reported that three top 1,000 ETH whales were involved in three large crypto transactions involving MATIC, LINK.
With a wallet ranked 995th in the world, “Kvothe”, the first ETH whale purchased 2,700,000. MATIC, which is approximately $3,483,000. A wallet ranked 335th was purchased by a second whale, which bought 896,990 MATIC or $1,336,515. The third whale with the highest wallet rank at 335th was the one that purchased 99,990 MATIC, or $1,336,515.
Crypto Holdings on the Rise
This is part of a larger trend in crypto market that encourages long-term investing. Despite the crypto crash, digital currency investors have been HODLing tokens rather than panic selling to reduce losses. Bitcoin has experienced a 12.6% increase in the current supply, which has been held for over 10 years. Two days ago, Glassnode issued the following statement:
According to Glassnode the supply of bitcoins held for longer than half a years has hit a record high of about 76.5%. The current supply of bitcoins held for over 10 years is approximately 12.6% or 2.39 million BTC.