MATIC’s large transactions surged by 742% after the recent SEC scrutiny.

The cryptocurrency Polygon (MATIC) has recently seen a surge in large transactions, leading to speculation about the motives of cryptocurrency whales. This surge appears to have been triggered by a lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and blockchain. Large transactions, defined as those exceeding $100,000, are often used to indicate whales’ actions and strategies. On the Polygon network, the volume of large transactions has increased by 742% in the last 24 hours, reaching $64.44 million. This surge in activity has occurred against the backdrop of a broader cryptocurrency market downturn due to regulatory uncertainties. MATIC, Polygon’s native token, has also experienced a decline in price. The SEC’s lawsuit against blockchain intensifies the regulatory scrutiny surrounding major cryptocurrency exchanges, adding to the ongoing challenges faced by the crypto industry.