MATIC Whales Make Waves: Gemini Launches New Derivatives Pair

Gemini's decision to include the MATIC/GUSD perpetual contract on its international crypto derivatives platform underscores its commitment to expanding accessibility to digital asset trading.

Despite restrictions in certain jurisdictions, this move opens up new avenues for users worldwide to engage in crypto derivatives trading, tapping into the growing demand for diversified investment opportunities.

The notable whale activity surrounding MATIC accumulation adds a layer of intrigue to the market dynamics, hinting at potentially significant shifts in sentiment and investment strategies.

According to data from Whale Alert, two noteworthy instances of whale accumulation were observed within the broader crypto market on February 8th. The first transaction involved the transfer of 11.99 MATIC tokens valued at $9.99 million from Coinbase Institutional to an undisclosed wallet address.

Meanwhile, the second transaction saw the accumulation of 20 million MATIC tokens, totaling $16.66 million, from Polygon Staking, further fueling intrigue within the crypto community.

As Polygon’s price continues to reflect this heightened interest, Gemini’s listing of the MATIC/GUSD perpetual contract is expected to further catalyze trading activity and market participation.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.