EddieJayonCrypto

 26 Dec 23

tl;dr

Billionaire investor Mark Cuban recently deposited millions of Polygon (MATIC) to Coinbase, leading to speculation of a potential liquidation move. Despite receiving the tokens from the Polygon Ecosystem Growth and staking them to earn more, Cuban's potential selloff may result in a loss. This move ...

Billionaire investor Mark Cuban recently deposited millions of Polygon (MATIC) to Coinbase, leading to speculation of a potential liquidation move. Despite receiving the tokens from the Polygon Ecosystem Growth and staking them to earn more, Cuban's potential selloff may result in a loss. This move comes at a time when Cuban is selling his stake in other ventures, yet Polygon (MATIC) surprisingly remains stable despite the impending selloff.


According to data from Spot On Chain, a wallet labeled as Mark Cuban 3 unstaked and deposited a total of 2.826 million MATIC on Coinbase at an average price of $0.91 per token. This transaction, valued at $2.56 million, took place on December 25, marking the most emphatic move of the tokens received from the Polygon Ecosystem Growth on May 24, 2021. Current permutations suggest a potential selloff is incoming.

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