A Whale Removed Its Stakes From This Altcoin And Transferred It To Binance!

When the on-chain data is examined, a cryptocurrency large amount of whale Polygon (MATIC) He appears to have moved his altcoin to Binance.

Examining the details of the recent transfer transaction, the whale sent 1.10 million MATIC tokens worth $1.21 million to Binance.

The wallet appears to have been holding these MATIC altcoins by staking on Lido Finance prior to this transaction.

In exchange for MATIC tokens staked on Lido Finance, a coin named stMATIC is given to users as an equivalent, and thanks to this coin, users continue to earn staking rewards and can use stMATIC tokens indexed to MATIC price in various DeFi applications.

Lido Finance is a similar app. Ethereum also offers for As it is known, since the Shanghai update has not been implemented yet, Ethereum tokens cannot be removed from staking when staked.

What Other Altcoins Does the Whale Have?

Although Whale has thus transferred all his MATIC tokens to Binance, he still holds a large amount of other altcoins.

The whale, which holds a total of $ 1.9 million in assets in its wallet, is the most Rocket Pool (RPL) owns the coin. The total amount of RPL in the wallet is approximately $875,000.

Other coins in the whale’s wallet are $372,232. Frax Share (FXS), $264,040 BendDAO (BEND) and $232,000 DAI is observed. Among them, DAI is known as a decentralized stablecoin.

In addition, the whale in question is among those who are entitled to receive a large amount of BLUR airdrop.

*Not investment advice.

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