Market decline

3 Million MATIC Tokens Bought by Whale Amid Market Decline

As reported by WhaleStats, a whale ranked 297th among the top 1,000 ETH wallets it tracks purchased nearly three million MATIC tokens in three separate trades. The MATIC price fell to $1.30 on January 24 before making an oversold bounce. At press time, MATIC was trading at $1.63, up 4.40% in the last 24 hours.

According to the blockchain data tracker, the mysterious buyer made the first major transaction of 1,000,090 MATIC tokens, or $1,660,149, about six hours ago. The two trades of 1,159,995 and 845,778 MATIC tokens, or $1,925,592 and $1,403,991, followed within an hour.

MATIC also remains among the top 10 tokens bought and most traded at press time, according to WhaleStats.

Polygon unveils new milestones

Polygon EIP 1559 went live on January 18, ensuring that Polygon’s proof-of-stake remains fully compatible with Ethereum while introducing fee and burn mechanisms. As part of the implementation, Polygon Notes that its PoS block size decreased from an average of 20MB to 10MB.

Ryan Wyatt, head of games at YouTube, recently announced that he will be leaving the video-sharing platform in February to join Polygon Studios as CEO.

Polygon Studios is the non-fungible games and tokens (NFT) arm of the network. Polygon (MATIC) plans to invest $100 million in projects led by its studio subsidiary, which launched in July.

Polygon also announced the release of the initial Polygon Hermez 2.0 zkEVM documentation. Polygon Hermez is an open-source ZK-Rollup optimized for secure, inexpensive, and usable token transfers on the wings of Ethereum.