МАТИК was one of the few cryptocurrencies to register high gains prior to the FTX fall. The crypto market’s doom, however, has now pulled Polygon back to the pre-rally levels.
Цена на полигон (MATIC). се зголеми за над 40% in the days before the FTX fall and larger crypto market crash. At the time of writing, MATIC, the 10th-ranked crypto by market cap, traded at $0.78, down 11.40% on the weekly window.
While Polygon price action concerned holders and investors, it wasn’t just double-digit losses that raised eyebrows.
50 Billion MATIC Moved
Цена нестабилноста often leads to on-chain transfers and redistribution of tokens or coins. Thus, when Polygon price took a hit, long-term holders and investors started to move old coins.
The Age Consumed indicator from Santiment suggested that older MATIC has been moved in the last month than in the last three combined. Age Consumed showed significant spikes from Nov. 16.
Spikes on Age Consumed signal a large number of coins moving after being idle for a long time. In the last four days, 51.30 billion MATIC has been moved as old coins kept circulating.
The first spike in Age Consumed metric showed up on Nov. 16 when 42.98 billion MATIC was moved. Polygon price soon dropped after the large amounts of coins were moved on-chain.
Alongside old coins being moved, data from Whale Alerts suggested that a MATIC dumped 9,000,000 MATIC worth $7.22 million from an unknown паричник на Binance. Coins being sent to exchanges often point towards either liquidation, or the intention to liquidate to cut losses if the price drops
Source: https://beincrypto.com/50-billion-matic-transaction-raise-eyebrows/