Polygon Allocates $200 Million to 70 Addresses in Past 24 Hours
In the last 24 hours, Polygon's designated wallet has allocated 217 million MATIC tokens (equivalent to $199 million) across 70 recipient addresses, believed to be internal wallets.
Polygon Allocates $200 Million to 70 Addresses in Past 24 Hours
According to etherscan data, the wallet labeled Polygon (Matic): Ecosystem Growth has distributed a total of 217 million MATIC tokens to 70 addresses in the past 24 hours. Most of these addresses had previously received a similar amount of MATIC from the Ecosystem Growth address about a year ago.
#PeckShieldAlert #Polygon (#Matic): Ecosystem Growth-labeled address distributed ~217.3M $Matic to ~70 addresses pic.twitter.com/2NDZghRpiX
— PeckShieldAlert (@PeckShieldAlert) November 16, 2023
PeckShieldAlert's investigation reveals that 32 out of these 70 addresses have initiated transfers totaling 82.3 million MATIC (approximately $74.9 million) to centralized exchanges (CEXs) such as Binance, Coinbase, OKX, and Bitfinex, indicating potential preparations for selling.
The MATIC token is currently trading around $0.9, experiencing a slight 3% decline following the news.
Recently, the Polygon ecosystem has seen notable developments, including the launch of the Chain Development Kit (CDK) and the relaunch of the 110 million MATIC funding program for Polygon Village 2.0.
