Crypto Rise: Here is a cryptocurrency that is leading a new market rise

Polygon closely followed by Uniswap (UNI) and The Sandbox which gained 18% and 14% respectively.

According to CoinMarketCap statistics, MATIC’s market capitalization increased to $800 million compared to the previous day.

However, MATIC is still trading 82% below its November highs.

A huge increase for Polygon

On-chain data shows that a handful of whales have increased their holdings of MATIC tokens despite the downtrend in the cryptocurrency market. They hastened to reinforce their positions.

The #Polygon project just unveiled its “Green Manifesto”, where it explains that it wants to achieve carbon neutrality by the end of 2022. 🌲 Polygon may even propose a negative carbon footprint when the #Ethereum blockchain switches to PoS 👇 $MATIC https : //t.co /5Ro1yprj96

Polygon token holders with holdings ranging from 10,000 to 10 million coins have increased their exposure overall by 8.7% since May 9 according to Sanitation.

It is interesting that the price of MATIC fell by 50% in the same period, which indicates the fact that many many whales hope for a long-term return for MATIC.

According to data published by Crypto Quant, in the period from May 1 to June 23, the total amount of MATIC across all cryptocurrency exchanges increased from 1.21 billion to 1.37 billion.

However, it is important to note that a significant increase in such a short time can lead to profit taking and price reversal in the short term.