- Large wallet investors have accumulated 3.5 million MATIC tokens through the recent cryptocurrency Bloodbus.
- MATIC prices have continued to rise amid heightened geopolitical tensions, recording an overnight rise of 11%.
- Analysts have a bullish outlook on MATIC’s pricing and forecast an upward trend in Ethereum scaling solutions.
A large wallet investor who owns Ethereum has scooped up MATIC with a recent altcoin price cut. Altcoin is one of the most purchased cryptocurrencies by Ethereum whales.
Analysts predict that MATIC will continue to rise
The prices of most cryptocurrencies have fallen during the war between Russia and Ukraine. Altcoin prices have plummeted in response to the crisis, sweeping profits over the past two weeks.
Proponents say: MATIC Prices started the week with a positive rise before posting a fall. The conflict between Russia and Ukraine caused a significant drop in altcoin prices. Large wallet investors on the Ethereum network have accumulated tokens for the scaling solution MATIC through Bloodbus.
Cryptographic data aggregator WhaleStats pointed out that three of the top 1,000 Ethereum whale addresses have accumulated Ethereum scaling solutions. The whale “Kvothe” scooped up 2,700,000 MATIC tokens. The $ 3.4 million purchase shows a large accumulation by large wallet investors, demonstrating a rise in the price of altcoin.
Analysts at FXStreet evaluated MATIC’s price movements and predicted that losses would double if Altcoin continued its downtrend.
#polygon Watching investors escape from risk assets and enter safe shelters, $ MATIC If you have already lost 13% and Russia dominates an important city in Ukraine, you can double it. Losses are expected to deepen as the EU and NATO issue sanctions https://t.co/1pjccRLlkS
— FXScrypto (@FXScrypto) February 24, 2022
Analysts on the YouTube channel Invest and Trade with Jaxx predicted that the price of MATIC would bounce at $ 1.5. Analysts believe the next resistance to the MATIC price is $ 1.60.