Whales control almost 90% of Polygon (MATIC) circulating supply

The digital asset analysis company IntoTheBlock has found that large holders own 88% of the Polygon (MATIC) supply.

Whales control 88% of MATIC supply

This is an ETH scaling project designed to enable large-scale implementation of decentralized applications on the blockchain.

Specialists consider large holders to be an entity that owns at least 0.1% of MATIC circulating supply. With 6,872,890,164 MATIC tokens in circulation, 0.1% is $ 6,872,890 MATIC of $ 19.58 million.

IntoTheBlock analysts further add that 100% of MATIC investors are currently in profit as the Polygon flew to a new all-time high of $ 2.90.

In terms of token retention, 77% of addresses held a MATIC for one to 12 months and only 21% owned a token for less than one month. 2% of addresses are MATIC for more than one year.

If we talk about MATIC deposits and withdrawals on exchanges, then over the last seven days, market participants have invested $ 708.44 million on exchanges, while the outflow or withdrawal for the same period was $ 618.24 million.

The concentration in the hands of whales confirms the result of the Flipside Crypto analysis cited by Bloomberg, which is that just over 2% of anonymous accounts on various blockchains control about 95% of digital assets.