Polygon (MATIC): What Dominant Investors Need to Know

Polygon has triggered the curiosity of dominant buyers or the so-called whales within the last few days. The project’s latest collaborations plus soaring domination in the NFT and Dapp sectors could have supported this investor interest. Can MATIC retain whale enthusiasts for longer than expected?

Shopping Spree

A cryptocurrency whale activity tracker, WhaleStats, tweeted on September 19 that Polygon was one of the top ten bought digital coins among the leading Ethereum whales over the past day.

Moreover, MATIC investors on OpenSea have recorded an upsurge within the previous year. Furthermore, the number of investors surpassed 1 million.

Also, Polygon recorded some maturation in the NFT volumes. Nevertheless, it noted some dips after the volume touched 1.2 million on September 14. Polygon has more to its growth than the highlighted info. MATIC’s development activity spiked last week (Santiment’s data).

That confirms that Polygon’s developers have been working on platform updates and improvements. Moreover, this update might trigger interest from prospective investors.

Though Polygon remains in the green as far as development is concerned, the blockchain should do much on its social side.

Talk of the Street

The growth within the dApp and NFT world might be behind Polygon’s sudden interest. The asset’s social media dominance noted some dips within the last month. The platform’s social mentions and engagements also dropped by 4.03% and 1.29% during the previous month, respectively.

Though MATIC’s weighted sentiment remained pessimistic over the last month, the metric has been in the correct direction.

Currently, near -0.107, we can conclude that the negative sensation outshined the positive one during this writing. Nevertheless, from the sentiment’s overall direction, the cryptocurrency community might switch its motives soon.

Some concerning factors support Polygon’s downward trip. For instance, the token’s circulating market cap has dwindled since last week, plummeting by 17.74%. Moreover, Polygon’s market capitalization dominance received a blow within the previous seven days, losing 6.89%.

Nevertheless, these pessimistic events haven’t affected Polygon’s collaborations and partnerships. Polygon declared another partnership with e-commerce platform Flipkart on September 19. This move could attract an enormous MATIC adoption while bolstering Polygon’s blockchain growth.