Polygon (MATIC) price dropped roughly 42% between July 12 and August 17, mainly driven by the Bitcoin price crash in mid-August. This downtick in BTC
Supporting this bullish outlook for Polygon price would be the whale transaction metric that tracks transfers worth more than $1 million. A spike in this metric after a rally would generally indicate a sell signal, but the same uptick during or after a downtrend is attributed to accumulation from whales. In this case, data from Santiment shows that whales, or large-wallet investors, have recently increased their holdings of the token despite the price decline.
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