Crypto Information– In response to a put up by monitoring firm Lookonchain, Marc Boiron, the CEO of Polygon Labs, issued a clarification asserting that the MATIC tokens being bought don’t originate from the Polygon Basis.
Polygon CEO Declines Polygon Basis’s Sale of 10.6 Million MATIC Tokens
Notably, Lookonchain not too long ago reported that two addresses related to the Polygon Basis had transferred 10.6 million MATIC tokens to Binance throughout the span of a month, equal to roughly $5.92 million in worth.
To elaborate additional, one of many addresses, designated as Polygon Basis 0x8d36, despatched 6 million MATIC tokens (with an approximate worth of $3.35 million) to Binance over the previous two days. The opposite handle, labeled as Polygon Basis 0xf957, deposited 4.6 million MATIC tokens (equating to roughly $2.57 million) into Binance within the final 30 days.
Following Marc Boiron’s affirmation, Lookonchain clarified that the labeling of those pockets addresses was derived from Nansen, a famend on-chain knowledge evaluation device with an unlimited knowledge repository containing labeled wallets. These labels are utilized to categorize wallets based mostly on numerous attributes, resembling substantial income from NFTs, involvement in airdrops, or associations with particular organizations.
Regardless of Polygon’s denial of MATIC token gross sales, the numerous motion of those tokens to exchanges by traders alerts waning confidence within the undertaking, particularly as the worth of MATIC has skilled an 80.85% decline from its all-time excessive.
