{"id":231921,"date":"2024-01-19T00:10:03","date_gmt":"2024-01-18T18:40:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=231921"},"modified":"2024-01-19T00:10:03","modified_gmt":"2024-01-18T18:40:03","slug":"polygons-matic-stirs-as-us26-mln-moved-to-exchanges-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polygons-matic-stirs-as-us26-mln-moved-to-exchanges-crypto-news\/","title":{"rendered":"Polygon’s MATIC stirs as US$26 mln moved to exchanges – Crypto News"},"content":{"rendered":"

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Approximately US$26 million in MATIC, the native token of the Polygon network, has been transferred by bankrupt crypto lender Celsius Network, to exchanges.\u00a0<\/p>\n

The transfer\u2019s timing and scale have prompted speculation among investors and analysts about its potential impact on MATIC\u2019s price.\u00a0<\/p>\n

Large transfers to exchanges often precede selling pressure, which can depress the token\u2019s price. Such movements are closely monitored as they can provide insights into the intentions of major stakeholders and potentially forecast market trends. Celsius Network has not publicly disclosed the intent behind the transaction.<\/p>\n

Polygon\u2019s MATIC has been one of the more resilient tokens in a market that has seen its fair share of volatility. The network\u2019s commitment to enhancing Ethereum\u2019s scalability through has earned it a reputation as an important infrastructure project in the blockchain space.<\/p>\n

MATIC fell 15.1% over the past seven days leading to 1:30 p.m. ET. It is ranked as the 16th largest cryptocurrency with a market capitalization of over US$7.3 billion, according to CoinGecko<\/a> data.\u00a0<\/p>\n

Polygon is the fifth most popular blockchain for non-fungible tokens with US$1.42 billion in historic sales volume, according to CryptoSlam<\/a> data.\u00a0<\/p>\n<\/div>\n

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Approximately US$26 million in MATIC, the native token of the Polygon network, has been transferred by bankrupt crypto lender Celsius Network, to exchanges.\u00a0 The transfer\u2019s timing and scale have prompted speculation among investors and analysts about its potential impact on MATIC\u2019s price.\u00a0 Large transfers to exchanges often precede selling pressure, which can depress the token\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":231922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-231921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=231921"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231921\/revisions"}],"predecessor-version":[{"id":231924,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231921\/revisions\/231924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/231922"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=231921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=231921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=231921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}