According to on-chain analytics firm IntoTheBlock, there has been a notable surge in institutional and whale interest in the cryptocurrency sector. Specifically, Polygon, an Ethereum scaling solution, has witnessed a staggering 3,800% increase in transactions exceeding $100,000 in volume over the past 30 days.

IntoTheBlock categorizes transfers of more than $100,000 as large transactions. In this context, a surge in large transaction volume represents the total value traded by institutional players and whales in a single day, potentially indicating active buying or selling by these market participants.

As a result of this uptick in large transaction volume, the price of MATIC has surpassed $0.80 for the first time since July. MATIC's market capitalization has also risen by 62% in the past 30 days, driven by increased whale activity and accumulation.

At the time of writing, the MATIC cryptocurrency had experienced a 2% increase in the previous 24 hours, reaching $0.828. Over the past seven days, the token has gained an impressive 20.3%.

Since October 24th, wallets holding between 100,000 to 10 million MATIC tokens have accumulated a total of 42.88 million coins, as reported by Santiment. Notably, there were 161 MATIC transactions exceeding $100,000 in a single day, marking the highest daily count since July.

In a positive development for the Polygon ecosystem, Immutable, a Web3 gaming platform, has announced a new partnership with Ubisoft, a leading video game creator and publisher. This collaboration aims to create a unique gaming experience that further explores the potential of Web3 technology.

This partnership holds significance because Polygon powers Immutable zkEVM, and Immutable is the first gaming platform to introduce a zero-knowledge (zk) scaling solution to the Ethereum community. This solution offers developers various zk-based scaling options, including Immutable X, a rollup based on StarkWare technology.