In a significant move, over 22.52 million MATIC tokens have been transferred out from a Jump-controlled Robinhood address within the past 24 hours. The majority of these funds, accounting for 19.22 million MATIC (valued at $14.3 million), were moved to Cumberland, a liquidity provider for cryptocurrencies, and B2C2,a global trading firm powering,before being deposited into the crypto exchanges Binance and Coinbase.
ScopeProtocol, a Web3 Knowledge Graph Protocol, unveils on-chain data of a significant MATIC transfer. A staggering 22.52M tokens have been moved from a Jump-controlled Robinhood address within the last 24 hours:
On-chain data shows that over 22.52M $MATIC transferred out from #Jump controlled #robinhood address for the past 24H.
— 0xScope (🪬 . 🪬) (@ScopeProtocol) June 10, 2023
19.22M $MATIC ($14.3M) was transferred to #cumberland and #B2C2 and ended up being deposited to #binance & #coinbase .
address:https://t.co/sH1Encg8c6 pic.twitter.com/NSiNtReEqw
The on-chain data revealing this enormous transfer was shared by Watchers.pro, sparking curiosity and speculation among crypto enthusiasts. This development has left many wondering about the reasons behind such a large-scale transfer and its potential impact on the market.
While it is not uncommon for large token transfers to occur within the cryptocurrency space, the sheer size of this particular transaction has garnered significant attention. Moreover, the fact that the tokens were moved from a Jump-controlled Robinhood address adds an extra layer of intrigue to the story.
Jump Trading, a Chicago-based trading firm, is well-known for its involvement in various aspects of the digital asset market. Its association with Robinhood, a popular stock and cryptocurrency trading platform, has led some to question whether this could be a sign of an upcoming partnership or collaboration between the two companies.
Over the past week, the MATICUSD price has experienced a significant decline of 33.66%. This indicates a bearish sentiment in the market for MATIC, suggesting that selling pressure has been dominant and outweighing buying interest.
Looking at the one-month performance, MATIC has also seen a notable decrease of 32.04%. This further reinforces the bearish trend for the cryptocurrency.
The current price of MATICUSD stands at $0.5976, which represents a decrease of 17.58% from the previous close at $0.7251. This decline indicates a substantial drop in value within a short period
The high for the given period was recorded at $0.7253, while the low was observed at $0.5564. These price levels provide insights into the range within which MATIC has been trading.
The market capitalization of MATIC is $5.546 billion, which reflects the total value of all MATIC tokens in circulation. Market cap could be used to gauge a cryptocurrency’s relative size and popularity.
Most indicators are currently indicating a bearish sentiment in the market for MATIC. It suggests that the overall sentiment among traders and investors is negative, with more emphasis on selling and a lack of buying pressure.
