Blockchain analytics firm Santiment has spotted huge whale transactions for Polygon (MATIC), Fantom (FTM), and an Ethereum (ETH)-based altcoin as the crypto markets continue to see red.
In a new blog post, Santiment reports that a Polygon whale relocated his MATIC stack worth $62.1 million from one crypto exchange address to another exchange wallet.
The firm warns the transaction could be a sign that a whale is getting ready to sell, but could also be a routine shuffle of tokens on an exchange.
“MATIC is the most notable asset on the list, after a 58,885,143 MATIC ($62.1 million) transaction was made today. Unfortunately, this appears to have been an exchange address moving coins to another exchange address, which generally isn’t indicative of any positive price
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