Polygon

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<ul class="news-points"> 
 <li>Grayscale has eliminated Polygon (MATIC) from its Digital Large Cap Fund.</li> 
 <li>The firm specifically mentioned it sold MATIC to acquire AVAX and XRP.</li> 
 <li>Grayscale also eliminated CRV from its DeFi Fund following a sell-off.</li> 
</ul> 
Prominent U.S.-based crypto asset manager Grayscale has eliminated the $8 billion valued <a href="https://coinedition.com/tag/polygon-matic-news/">crypto project Polygon (MATIC)</a> from its Digital Large Cap Fund. The firm announced this development in a recent <a href="https://www.globenewswire.com/news-release/2024/01/05/2804863/0/en/Grayscale-Digital-Large-Cap-Fund-Grayscale-DeFi-Fund-and-Grayscale-Smart-Contract-Platform-Ex-Ethereum-Fund-Announce-Rebalancing-of-Funds-for-Fourth-Quarter-2023.html" target="_blank" rel="nofollow">press statement</a> disclosing its most recent rebalancing of funds. 
In the report, Grayscale noted it modified its GDLC’s portfolio by selling specific quantities of the current fund components based on their respective weightings. Polygon (MATIC) was impacted in the sell-off round as it has been excluded from GDLC. 
Grayscale’s action likely influenced the market value of MATIC as CoinMarketCap data shows the asset is down by over 14% in its seven-day cumulative performance.&nbsp; 
<div class="wp-block-image"> 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/v_XwQbsiV1Fr4v9vixQLLIIVwwUdN62A0htEWowjnd_XnWyk4LPhrMpIPIjQ9Ysos93pZhZKwRmrBgbWBfj0dPokCNpqvqNcEGu6XgDMmhFrE2SquHVIjO75k7fEnvSXMrtVc2JonTcIJ-UC" alt="Polygon (MATIC) chart | CoinMarketCap">
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 Polygon (MATIC) chart | CoinMarketCap
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Furthermore, Grayscale indicated that the cash generated from the sales was utilized to acquire new entrants into its Digital Large Cap Fund. The new additions are Avalanche (AVAX) and XRP.&nbsp; 
As a result, GDLC’s Fund Components now includ…
The post <a href="https://coinedition.com/grayscale-consents-to-dumping-polygons-matic-tokens-matic-tanks-14/">Grayscale Consents to Dumping Polygon’s MATIC Tokens, MATIC Tanks 14%</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Grayscale Consents to Dumping Polygon’s MATIC Tokens, MATIC Tanks 14%

Coin Edition

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