After Render and Injective Unique Whale Movements, Is Polygon (POL) Ready To Spike?

Whales moved Render and Injective coins; then prices edged higher. The same is now being seen with Polygon. Will the POL price rally?

There are over 300 quality projects to choose from as a crypto investor. The problem is, of them all, you can easily be split of choice.

Take, for example, Polygon (POL) Price Trading volume in 24h Last 7d price movement , Render (RNDR) Price Trading volume in 24h Last 7d price movement , and Injective (INJ) Price Trading volume in 24h Last 7d price movement .

One is a big player in crypto AI, while the other is taking DeFi to a new level. Polygon is helping scale Ethereum as a sidechain.

They also command hundreds of millions in market cap, boasting vibrant communities.

Lessons From The Past: Render (RNDR) And Injective (INJ)

A level deeper, Santiment analysts note that whales have also helped shape the prices of Render and Injective.

( Source )

In 2023, whales moved some INJ coins to a cold wallet. Weeks later, INJ prices began edging higher.

The same was seen when RNDR whales shifted a big chunk of tokens to a cold wallet.

( INJUSDT )

RNDR also happened to spring higher, and with rising prices comes the attention.

Not only is INJ one of the most valuable DeFi protocols, but it has also struck quality partners in the last year.

One of them is BlackRock, an asset manager and the issuer of BUIDL .

Early this month, BlackRock announced that it would partner with Injective to launch a tokenized perpetual market tracking the BUIDL fund.

Already, BUIDL is deployed on Ethereum, allowing investors to invest in tokenized United States Treasury.

By bringing BUIDL to the Injective Protocol, more investors will be able to access an exclusive asset class offered by a respected and reputable asset manager.

Meanwhile, Render has seen good things as well.

Its role in crypto and crypto AI is there for everyone to see.

 

After being mentioned by Apple and their integration via Octane X, Grayscale also saw fit to create a decentralized AI fund where investors will get exposure to RNDR, among other coins.

Grayscale’s mere inclusion acknowledges that Render is here to stay, and RNDR could be, after all, undervalued at spot rates.

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Is Polygon (POL) Ready To Rip?

Now, Santiment data has picked out yet another movement.

For some reason, whales are moving POL tokens to their cold wallets – a clear sign of accumulation.

Early this month, Polygon developers migrated MATIC to POL, adding the new tokens more utility.

The transition also marked a new era for the Ethereum sidechain, ushering in Polygon 2.0 and the mega scaling and interoperability age.

( POLUSDT )

Since the migration on September 4, POL prices have been printing lower lows and struggling.

It is only inches away from $0.35 at press time, a key support level.

What’s needed is for POL to fly above $0.60, reversing losses.

If the performance of RNDR and INJ prices following the whale transfer is anything to go by, then POL could be set for major gains in the coming sessions.  

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.