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Sharp Rise in Whale Activity Detected on Dogecoin (DOGE) and Polygon (MATIC)

  • Swiss crypto behavior analytics firm Santiment disclosed three altcoins that are heavily favored by whales
  • Polygon (MATIC) releases a major “zkEVM” update for Ethereum (ETH) scaling
  • Dogecoin (DOGE) gets adopted by French Riviera yacht charterers as a payment option

Statistics provided by the crypto behavior research platform Santiment show that transactions with a value of $100,000 or more have skyrocketed significantly since July 18. The spike occurred when Bitcoin (BTC) was priced at $22,275.42. As the crypto market is finally enjoying green weeks, the trend that started at 7PM GMT on July 18 continues today.

The Swiss crypto analytics company pointed out three specific altcoins in their research summary. All of them recorded enormous gains in price:

  • Uniswap (UNI) – price by 33.9% weekly
  • Dogecoin (DOGE) – up by 23.2% weekly
  • Polygon (MATIC) – up by 69.6% weekly

Polygon Launches Scaling Solution for ETH Today

Polygon (MATIC) has been enjoying lots of success lately, right after Disney included Polygon blockchain into the Disney Accelerator 2022 edition. This means a lot for Polygon (MATIC) as it is the only crypto company nominated this year. Previously known as Matic Network, Polygon (MATIC) hit another milestone in partnership with Coca-Cola on their Pride NFT series.

Today, Polygon officially drops Polygon zkEVM, the zero-knowledge Ethereum (ETH) virtual machine. An innovative cryptography method called “zero knowledge proof” is to be used, and predicted to be faster than VISA’s payment gateway. The project was introduced back in July 2021, when blockchain developer Jordi Baylina called the highly anticipated update “The main focus of the project.”

Double-Digit Gains for DOGE & MATIC

At press time, Polygon (MATIC) is trading at $0.902522, gaining 67.1% in the last 7 days. In terms of the last 30 days, MATIC is up by a whopping 140.7%. On the other hand, the popular meme coin Dogecoin (DOGE), ranked #10 by market cap, trades at $0.074062, according to CoinGecko. Better days have come for DOGE, as it has risen 32.3% in the last 7 days and 22.3% since last month.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a blockchain journalist and content creator, focusing on the latest tendencies of the crypto world and digging deeper into specific innovations like music NFTs, gaming NFTs and Metaverse. Vast experience in social media lets Tadas quickly spot what’s going on in the crypto industry and deliver a story with a unique spin.