An early MATIC whale makes an unexpected move by selling millions worth of tokens amid the massive rise of the asset on the market. In exchange for Polygon's token, the whale grabs some DAI. The first MATIC transaction on the whale's wallet occurred when the token was trading at $0.02.

As on-chain data shared by Lookonchain suggests, the early holder sold 4.5 million tokens in exchange for 5.2 million DAI at the average price of $1.14. Considering the fact that the addresses received part of those funds at the average price of $0.02, the profit made reached triple digits.

The most likely reason behind such an unexpected move is the price performance of the MATIC token, which has been rallying on the market in the past few days. Polygon's token has gained more than 52% to its value since reaching the local bottom on Jan. 1.

(By Arman Shirinyan)