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According to analytics firm Santiment, cryptowhales are massively accumulating an Ethereum-scaled altcoin

Crypto analytics firm Santiment says Ethereum (ETH) scaling solution Polygon (MATIC) is now entering its sixth week of whales and sharks gathering.

mood says Whales, holding between 10,000 and 10 million MATIC tokens, have increased their holdings by nearly 10% over the six weeks overall.

“MATIC sharks and whales have been in a pretty big accumulation trend for about six weeks. Tiers of holders, ranging from 10,000 to 10 million coins held, have collectively brought 8.7% more into their pockets over this time span.”

Source: santimentfeed/Twitter

A shark is a crypto asset investor or holder holding between 500 and 1,000 of a digital asset, while a whale holds over 1,000 of that asset.

Santiment also says Ethereum rival is Solana (SOL). for now a hot topic on social media forums alongside Celsius Networks (CEL) amid high levels of negative sentiment in the crypto space.

“As we head into our final week of a shaky June, traders are doing their best to navigate the bear market. CEL and SOL are both seeing an increase in discussion and the topic of cryptocurrency as a Ponzi scheme shows how negative sentiment is.”

Source: santimentfeed/Twitter

According to Santiment, “concerns” about Solana made it a top ten trending topic on social media forums. Solana is prone to outages and this year alone Solana has recorded 12 instances of downtime, three of which were major outages, each lasting more than two hours.

Just this week, a Solana-based lending platform, Solend (SNLD), unveiled a governance proposal aimed at confiscating the crypto assets of a whale that was nearing liquidation levels, potentially jeopardizing the protocol and “putting the pressure on.” “. Solana Network.”

In the case of Celsius Network, the centralized financial platform halted withdrawals indefinitely last week, causing the CEL token to crash.

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