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.

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 21 Sep 24
 20 Sep 24
 20 Sep 24