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<p>Alameda Research bankrupt firm who have earlier filed for Chapter 11 bankruptcy protection alongside FTX is making waves again in the crypto community. Just as Polygon (POL) surged by 35% this week, the troubled company has transferred millions of POL tokens. </p>   
<p>This sudden move has raised questions, is this a sign of an upcoming sell-off and profit-taking?&nbsp;</p>   
<h2 class="wp-block-heading" id="h-alameda-move-2-million-pol-token">Alameda Move 2 Million POL Token</h2>   
<p>On November 23 Alamade Research, one of Polygon's biggest investors <a href="https://intel.arkm.com/explorer/entity/alameda-research">transferred 2 million POL tokens,</a> valued at approximately $927,000, to Binance, a leading centralized exchange.&nbsp;</p>   
<p>Perhaps, this isn’t the first time Alameda has made such moves — over the last few days, they've moved a total of 4.5 million POL tokens.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-a-history-of-market-manipulation">A History of Market Manipulation?</h2>   
<p>Alameda’s actions come at a time when POL’s price is seeing a significant boost, especially since Alameda has a history of conducting token dumps that can cause significant fluctuations in the market.&nbsp;</p>   
<p>However, this recent transfer follows a similar pattern seen in the past when <a href="https://coinpedia.org/crypto-live-news/alameda-research-sells-off-3-46m-wld/">Alameda moved 2 million WLD tokens</a>, worth approximately $3.46 million, to Binance. The purpose of these transfers is believed to be tied to their efforts to repay creditors.</p>   
<p>With the recent price surge, some fear that the transfers might be an indication that Alameda is preparing to sell off its holdings, potentially leading to a price correction if other large holders, or "whales," follow suit.</p>   
<h2 class="wp-block-heading" id="h-polygon-s-price-surge-can-it-hold-on">Polygon’s Price Surge: Can It Hold On?</h2>   
<p>Despite these large transfers, Polygon's price has been climbing. The POL token has been <a href="https://markets.coinpedia.org/polygon/">trading above $0.54</a>, up 19% in just 24 hours. This week, the price has jumped from $0.34 to $0.54, mainly due to news that SEC Chair Gary Gensler is stepping down. This news has brought fresh hope to the market, and POL has been one of the winners.</p>   
<p><strong>Technical Outlook: Bullish or Bearish?</strong></p>   
<p>Looking ahead, the technical charts show that the price could keep going up. If POL breaks through the $0.59 resistance level, it could reach as <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">high as $0.73 and further to $1.2</a>.&nbsp;</p>   
<p>However, if it struggles to break that barrier, there’s a chance it could drop back down to $0.48 before starting a fresh rally.&nbsp;</p>   
<p><strong>The future of Polygon, and the broader crypto market, remains uncertain.</strong></p>

Alameda Dumps Millions in Polygon (POL) Tokens: Is a Sell-Off Coming?

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