TechFlow news, on August 26, according to Spot On Chain monitoring, a wallet associated with the Polygon Foundation has deposited 15.49 million MATIC tokens, worth approximately $8.1 million, into the Binance exchange over the past five days. The wallet currently still has 13 million MATIC (approximately $6.78 million) staked. These MATIC tokens all originated from a transfer by the Polygon Foundation contract in April 2023, when the MATIC price was $1.10. Notably, Polygon is scheduled to conduct a 1:1 token migration on September 4, transitioning from MATIC to POL, which will have a larger total supply and revised tokenomics.
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