Based

Cardano

Giant

Polygon

Hermez Network

LayerX Capital and three other whales jointly deposited 12.53 million ($11.33 million) of Polygon (MATIC) to cryptocurrency exchanges Binance and Coinbase in the last 10 hours.
LayerX Capital deposited 3.62 million MATIC ($3.31 million) on Binance at $0.91. This comes after LayerX Capital raised 14.2 million ($29.9 million) of MATIC from Wintermute Trading and Binance on December 7 and 8, 2021, and on June 21, 2023, at an average price of $2.10.
The company then staked these MATIC tokens. So far they have sold 8.50 million MATIC ($7.47 million) on decentralized exchanges and Binance at an average price of $0.878. Currently, LayerX Capital still has 7.18 million MATIC ($6.38 million) tokens staked on Polygon.
The company's estimated total loss from MATIC was 17.5 million (-58.1%), of which -$10.4 million was recorded as realized loss.
Two whales, 0x2e9 and 0xdb6 (presumably the same person), deposited 5.27 million MATIC ($4.80 million) on Binance at an average price of $0.910. The fact that two whales deposited MATIC to Binance via the same deposit address suggests that they may belong to the same person. Whales collected these tokens from Binance over the last 2 days at an average price of $0.904 (estimated cost: $4.76 million).
Based on the prices purchased and deposited to Binance, it can be said that the whales made a small profit of $ 36,115.
Related News: <a href="https://en.bitcoinsistemi.com/veteran-analyst-issues-urgent-warning-for-cardano-ada-after-huge-rally-today/" target="_blank" rel="noopener noreferrer nofollow">Veteran Analyst Issues Urgent Warning For Cardano (ADA) After Huge Rally Today</a>
Another whale, 0x5d7, deposited 3.64 million MATIC ($3.22 million) to Coinbase at $0.886. Notably, the whale had accumulated these tokens from Coinbase on November 22, 2023 at an average price of $0.743 (estimated cost: $2.70 million). If he actually sold now, the whale would have made a profit of $521k (+19.1%) in just over 2 weeks.
On the other hand, Hermez Network extracted 20 million MATIC ($17.7 million) from the Polygon PoS Staking contract. Notably, Hermez Network last sold 39,000 MATIC for 34,313 USDT via the 0x2261 intermediate wallet on November 14, 2023, after unstaking 120,000 MATIC ($110K at the time).
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/two-institutional-investors-and-three-giant-whales-are-showing-high-activity-in-this-altcoin-theyre-selling-heavy/" rel="noopener noreferrer nofollow">Two Institutional Investors and Three Giant Whales Are Showing High Activity in This Altcoin: They’re Selling Heavy</a>

Two Institutional Investors and Three Giant Whales Are Showing High Activity in This Altcoin: They’re Selling Heavy

Bitcoin Sistemi EN

Other articles published on Dec 10, 2023

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