Whales acquire around $14M worth of MATIC tokens since “burn” announcement

WhaleStats data indicate that whales have piled almost $14 million into MATIC tokens after its ”burn” announcement. In four different transactions reported by the tracking website, whales have acquired nearly five million MATIC tokens since Polygon rolled out the testnet implementation of the Ethereum Improvement Proposal 1559 on Dec. 14.

The most recent buy is that of an Ethereum whale ranking 453th among the 1,000 largest Ethereum wallets tracked by the website. They loaded up 2,490,000 MATIC tokens, or $4,631,400 worth in the last 22 hours.

On Dec. 14, Polygon’s core development team announced the rolling out of the testnet implementation of Ethereum Improvement Proposal 1559 to introduce the burning of its native MATIC token and better fee visibility. This was subsequently implemented in the Mumbai testnet on Dec. 14, at 8 a.m. UTC.

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