Whales Sell Off Huge Amounts Of MATIC To Book Profits.
Despite the fact that Polygon (MATIC) struggled through the recent crash in the crypto market, things are looking good for the project with its new partnership with the popular crypto exchange Kraken. In addition to this, Instagram’s integration with the Polygon network for minting NFTs is already building more hype for the project.
These new developments have pushed the crypto to trade in a slightly bullish region. Unfortunately, MATIC whales are seeing this as the perfect opportunity to sell off all of their holdings to book profits. This, in turn, has led MATIC’s sell pressure to rise.