Cryptocurrency analytics firm Santiment says whales are now entering the sixth week of Polygon (MATIC) accumulation.
Santiment says whales holding between 10.000 and 10 million MATIC have increased their total holdings by nearly 10% in six weeks.
“MATIC sharks have been in a fairly large accumulation trend for about six weeks. Holders of 10.000 to 10 million MATIC accumulated an additional 8,7% during this period.”
Santiment also said that Ethereum's rival Solana (SOL) along with CEL Network (CEL) is currently a hot topic on social media forums.
“As we enter the final week of June, traders are doing their best to navigate the bear market. CEL and SOL are both viewed by users as a Ponzi scheme in social media discussions, showing that negative sentiment exists.”
Solana became the most trending topic on social networking forums. This year alone Solana has recorded 12 outages with three of them lasting more than two hours.
This week, a Solana-based lending platform, Solend (SNLD), released a governance proposal that seeks to seize the crypto assets of a whale that is nearing liquidation.
Meanwhile, centralized financial platform Celcius last week halted withdrawals indefinitely.