Millions in Polygon’s MATIC Tokens Were Sent to Binance and Coinbase Ahead of 30% Slide, Data Shows
“Altcoins can crash this weekend even more as trading volumes are thin and market makers such as Binance have become less active,” one crypto firm warned.
Millions worth of polygon (MATIC) appeared to be sent by key market makers Jump Trading and Cumberland to crypto exchanges on Friday night ahead of a nearly 30% drop, blockchain data shows.
Analytics firm Lookonchain said in multiple tweets on Saturday that Cumberland had deposited 9 million MATIC, worth over $6.3 million, to Binance and 5 million MATIC, worth $3.5 million, to Coinbase.
The firm added that another crypto wallet related to Cumberland, Jump Trading and Robinhood deposited a cumulative 9.4 million to crypto exchanges.
Read More: https://www.coindesk.com/markets/2023/06/10/millions-in-polygons-matic-tokens-were-sent-to-binance-and-coinbase-ahead-of-30-slide-data-shows/
“Altcoins can crash this weekend even more as trading volumes are thin and market makers such as Binance have become less active,” one crypto firm warned.
Millions worth of polygon (MATIC) appeared to be sent by key market makers Jump Trading and Cumberland to crypto exchanges on Friday night ahead of a nearly 30% drop, blockchain data shows.
Analytics firm Lookonchain said in multiple tweets on Saturday that Cumberland had deposited 9 million MATIC, worth over $6.3 million, to Binance and 5 million MATIC, worth $3.5 million, to Coinbase.
The firm added that another crypto wallet related to Cumberland, Jump Trading and Robinhood deposited a cumulative 9.4 million to crypto exchanges.
Read More: https://www.coindesk.com/markets/2023/06/10/millions-in-polygons-matic-tokens-were-sent-to-binance-and-coinbase-ahead-of-30-slide-data-shows/
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