The address starting with 0x57f deposits 9 million MATIC to Binance

According to Spot On Chain monitoring, a wallet starting with 0x57f (linked to the Polygon Foundation) deposited 9 million MATIC tokens (worth 7.75 million USD) into Binance 11 hours ago. Overall, in the past 5 days, two wallets associated with the Polygon Foundation have deposited a total of 15.5 million MATIC tokens (worth 13.2 million USD) into Binance at a price of approximately 0.85 USD per token. After each deposit, the price of MATIC has slightly decreased.

MATIC

Comments

All Comments

Recommended for you

VitalikButerin ·

Possible futures of the Ethereum protocol, part 5: The Purge

One of Ethereum's challenges is that by default, any blockchain protocol's bloat and complexity grows over time. This happens in two places: Historical data: any transaction made and any account created at any point in history needs to be stored by all clients forever, and downloaded by any new clients making a full sync to the network. This causes client load and sync time to keep increasing over time, even as the chain's capacity remains the same.Protocol features: it's much easier to add a new feature than to remove an old one, causing code complexity to increase over time.
Messari ·

State of Polygon Q3 2024

Polygon Labs is a zero-knowledge (ZK) focused software company building and developing a network of aggregated blockchains via the AggLayer. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely adopted scaling protocols and tools for launching blockchains, including the Polygon Proof-of-Stake (PoS) network, Polygon zkEVM, and Polygon Miden. Polygon Chain Development Kit (CDK) is a collection of open-source software components that makes it easy for developers to design and launch ZK-powered L2s on Ethereum and connect to the AggLayer.
Cointime精选 ·

State of Filecoin Q3 2024

Filecoin is building a marketplace for data services — with the first service being storage — on top of the InterPlanetary File System (IPFS). FIlecoin uses deals that price the storage based on a market of providers instead of fixed pricing. A storage deal is like a contract with a service level agreement (SLA) — users pay fees to providers to store data for a specified duration.
Cointime精选 ·

AI Memecoins and stickers, and why should one stick to stickers

Like everyone else in crypto, I’ve been following the Truth Terminal saga. This experiment is incredibly relevant for anyone building open social protocols. Naively, I thought the age of AI influencers was still a few months away, but it turns out it’s happening right now.
Cointime精选 ·

Lightspark Announces New Bitcoin L2 and Upgraded UMA Capabilities

Lightspark unveils a new Bitcoin L2 and broadens the functionality of its Universal Money Address (UMA) standard with the release of UMA Extend, UMA Auth and UMA Request.
Cointime精选 ·

The inevitable rise of brand marketing on Zora

We're in the 1997 era of onchain marketing, get moving asap
DOT falls below $4

according to market data, DOT has fallen below $4 and is now trading at $3.99, with a 24-hour decline of 4.55%. The market is fluctuating greatly, so please manage your risks carefully.
BNB falls below $580

market showed BNB fell below $580, currently reporting at $579.9, with a 24-hour decline of 2.44%. The market is volatile, so please be prepared for risk control.
shakshichinnah ·

Web3 Development Continues to Soar: Major Upcoming Web3 Highlights from 2025

The upcoming years from 2025 to 2030 promise to be transformative for Web3 development, as blockchain technology gains traction across various industries such as retail, healthcare, and technology.
Squad3 ·

In-depth Analysis: Squad3’s Innovative Squad Model and Web3 Social Revolution

In-depth Analysis: Squad3’s Innovative Squad Model and Web3 Social Revolution