Technical analysis by AstronautPioneer about Symbol BTC: Buy recommendation (11/13/2023)

On-chain analytics firm IntoTheBlock has released data showing a significant increase in demand from institutional investors and whales in the crypto sector. Ethereum scaling solution Polygon in particular has been at the forefront of this trend, with transaction volume increasing by 3,800% to over $100,000 in the past 30 days. IntoTheBlock's classification of his trades over $100,000 as "large" trades reveals significant activity by whales and institutional investors. This large volume increase is a key indicator of increased activity in the industry, suggesting that major players are actively participating in significant transactions. This increase had a positive impact on the price of Polygon's native cryptocurrency MATIC, which exceeded $0.90 for the first time since July. MATIC's market capitalization has increased by a significant 77.3% over the past 30 days, highlighting the impact of increased whale and institutional investor activity.