ChainCatcher reports that, according to Arkham monitoring data, the address “0xFA5,” labeled as a Polygon multisig wallet, transferred a total of 52.928 million POL to a staking contract address yesterday, worth approximately $4.82 million.
Market analysts believe the move could provide some support for POL and ease downward price pressure. Polygon previously announced that, under proposal PIP-92, it would use 27.3 million POL in transaction fees to support staking rewards from October 1 to December 1.
Market analysts believe the move could provide some support for POL and ease downward price pressure. Polygon previously announced that, under proposal PIP-92, it would use 27.3 million POL in transaction fees to support staking rewards from October 1 to December 1.