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Today On-Chain: Large Dex Purchases and MATIC Accumulation?
Osgur Murphy O Kane
Key Takeaways
3 min read
  • An increase in Smart Money holdings and fresh wallets for MATIC is observed, likely due to last month's announcement that Polygon is shifting to a ZK-focused ecosystem.
  • There were large DEX trades for LINK and FRAX over the last 24h. This is likely due to the bullish developments; with CCIP for Chainlink and Frax chain expected at the end of this year.
  • $2.5m inflow of PRIME to fresh wallets.

Polygon (MATIC)

One of Cumberland’s wallets holds a net $2m position in Polygon. Polygon announced Polygon 2.0 last month; where the focus of the Polygon ecosystem is firmly on ZK technology. Polygon PoS itself will shift to a validium. Polygon is becoming recognized as a leader in...