Gemini to List MATIC/GUSD Perpetual Contract
In a major development, the renowned cryptocurrency exchange Gemini has announced its plans to list the MATIC/GUSD perpetual contract on its non-U.S. crypto derivatives platform. This move has garnered significant attention worldwide and is part of Gemini’s efforts to facilitate seamless crypto derivatives trading for users globally, excluding the U.S., U.K., and European Union.
MATIC Whale Activity: Detailed Analysis
Recent data from blockchain tracker Whale Alert reveals two significant whale accumulations in the broader crypto market. The first transaction involved an accumulation of 11.99 MATIC, valued at $9.99 million, from Coinbase Institutional to an unknown wallet. The second transaction showcased the accumulation of 20 million MATIC, worth $16.66 million, from Polygon Staking by an unknown wallet.
Polygon’s price surge seems to be closely linked to these whale accumulations and has seen a significant uptick recently. Gemini’s listing of the MATIC/GUSD perpetual contract has further contributed to this upward momentum.
Surging MATIC Price
At present, Polygon’s price has experienced a 4.52% surge in the past 24 hours and is currently trading at $0.8337. The token has also witnessed a weekly increase of 6.45% and a monthly increase of 8.12%. Additionally, the trading volume has risen by 10.11% to reach $284.23 million.
According to prominent analyst Michael van de Poppe, MATIC has displayed resilience in higher timeframe support levels, indicating that a rebound for the token is likely.
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