-Alameda Research transfers millions of Polygon (POL)
tokens: is a sale expected? Alameda is transferring 35 million POL tokens to #Binance amid a 200% price increase in #Polygon .
past large Alameda token sales, such as #WLD , have often resulted in price adjustments.
Alameda recently transferred millions of tokens, which raised investor concerns about the sale.
Alameda Research, a bankruptcy company that previously filed for Chapter 11 bankruptcy protection along with FTX, is once again raising a ruckus in the crypto community. Just as Polygon (POL) shares rose 35% this week, the troubled company transferred millions of POL tokens. This unexpected move has raised the question: is it a sign of an impending sell-off and profit taking?
11/23/11, Alamade Research, one of Polygon's largest investors, transferred 200 million POL tokens worth about 9927,000 to the large centralized exchange Binance.
this may not be the first time Alameda has made such a move - over the past few days they have transferred a total of 450 million POL tokens.
Alameda's actions come at a time when the price of POL has risen significantly, especially since Alameda has repeatedly dumped tokens, which can cause significant fluctuations in the market. However, this recent transfer follows a similar pattern seen in the past, when Alameda transferred 200 million WLD tokens worth about 3,346 million to Binance. The purpose of these transfers is believed to be related to attempts to pay off creditors.
Given the recent price spike, some fear that these transfers could be a sign that Alameda is preparing to sell its assets, and could lead to a price correction if other large holders, or whales, follow suit.
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