ChainCatcher report: According to Arkham monitoring data, the address labeled as Polygon’s multisig wallet, “0xFA5,” transferred a total of 52.928 million POL to the staking contract address yesterday, valued at approximately $4.82 million. Market analysis suggests that Polygon’s official announcement previously stated that, under PIP-92, 27.3 million POL from transaction fees will be allocated to support staking rewards between October 1 and December 1. This move may provide some support for POL, helping to alleviate downward price pressure.
Polygon Multi-Signature Wallet Stakes 52.928M POL Worth Over $4.82M
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Summary
A Polygon multi-signature wallet '0xFA5' staked 52.928M POL, worth $4.82M, into a staking contract. This move follows Polygon’s PIP-92 plan, which allocates 27.3M POL from fees to support staking rewards through December 1. As altcoins under observation gain attention, this could help establish a support level for POL, potentially stabilizing its price amid market volatility.
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