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Tomiwabold Olajide

Altcoin prices rebound as large investors buy into Chainlink, MATIC and Fantom dips

According to CoinMarketCap data, a handful of altcoins are seeing a slight rebound after yesterday’s market decline was inspired by Bitcoin’s drop to lows of $39,650.

At press time, Ethereum have rebounded 2.73% to $3,128, while tokens such as BNB (BNB, +5.59%), Terra (LUNA, +6.34%), Dogecoin (DOGE, +5.35%), Polygon (MATIC, + 8.69%) and Near Protocol (NEAR, +19.03%) were up amid the top 100 cryptocurrencies.

Polygon MATIC is up 8.69% at a present price of $2.23, as investors cheer the positive news of Associated Press launching its NFT marketplace on the Polygon blockchain.

As reported by U.Today, Polygon announced the debut of Plonky2, a recursive SNARK it claims is 100x faster than existing alternatives and natively compatible with Ethereum.

Large investors buy into Chainlink, MATIC and Fantom dips

Large investors typically use dip periods to accumulate their favorite tokens. According to WhaleStats data, large investors have purchased tokens such as Polygon (MATIC), Convex Finance (CVX), Chainlink (LINK) and Fantom (FTM) in the last 20 hours.

WhaleStats reports four large MATIC transactions by whales. The most recent buy is of an Ethereum whale who acquired 1,149,996 MATIC, or $2,495,491 worth. Another ETH whale ranking 614 on WhaleStats acquired 7,137,000 MATIC, or $15,415,920 worth.

Fantom and Chainlink were not left out of the whale accumulation spree as an Ethereum whale bought 500,000 FTM, or $1,110,000 worth, while another ranking 130th on WhaleStats purchased 46,000 LINK, or $1,263,160.

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