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

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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.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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