Whales are quietly sizing up on this Ethereum Layer 2 token

Polygon’s

in the past month is close to zero. The 365-day MVRV shows that investors who purchased this Layer 2 token are sitting at an average loss of 14%. This indicator is used to assess the average profit/loss of holders of a certain token and can be used as a buy/sell signal. The idea behind this metric is that if the average profit is too high, it can be a sell signal since panicking investors could sell to realize their gain.

on the dips. These investors’ activity saw an unusual spike after May 20 and is likely to continue.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ENS Labs Proposes Layer-2 Expansion for Ethereum Name ServiceCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Ethereum's Buterin Weighs In on Layer 2s and CultureEthereum co-founder Vitalik Buterin has shared his thoughts about subcultures formed by layer-2 solutions
Source: Utoday_en - 🏆 295. / 63 Read more »

Ethereum Name Service plans layer-2 migration to reduce gas fees, boost speedENS Labs founder and lead developer Nick Johnson said there will be a hierarchical registry system for managing .eth domain names.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Ethereum Name Service proposes migration to Layer 2ENS Labs has proposed ENSv2, a upgrade that aims to expand Ethereum Name Service to Layer 2 networks and enhance its scalability.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Ethereum Layer 2 Taiko goes live on mainnetTaiko launched on the mainnet following extensive development that started in 2022 and included seven testnets.
Source: TheBlock__ - 🏆 464. / 53 Read more »