Over $55 million worth of MATIC tokens being transferred to Coinbase has raised concerns. The transfers, which came from unknown addresses, were posted on Whale Alert. The large volume and quick succession of the transfers have sparked worries that the intention may be to sell the tokens. However, despite the transfers, the price of MATIC has not been affected negatively. In fact, the token has seen an increase of 3.09% in the last 24 hours and a 63.25% increase in the last 30 days. Analysis of the MATIC/USD chart also shows a strong upward breakout for the token. On-chain analysis has shown a surge in MATIC tokens used between November 5th and 9th, which has contributed to the increase in price. The number of MATIC tokens circulating on the Polygon network has also increased. If accumulation continues and circulation levels return to those of November 9th, MATIC could reach $1. Read more AI-generated news on: https://app.chaingpt.org/news