As reported by @OnchainLens on X, a total of 40 million POL has been transferred by a wallet linked to POL founder in three tranches of 10m, 20m and another 10m.

There are bullish and bearish speculations as to the meaning of these transfers.

Bullish Speculation

Community members speculate that there may be some sort of partnership between Polygon and Binance. This is a positive development that could lead to a price rally.

Bearish Sentiment

On the other hand, some speculate that the founder may be intending to sell some of his holdings adding downward pressure to the price.

POL Chart

In the short term, support is in the $0.66 area while resistance is in the $0.72 area. So far, this trading range has held steady for a week. I'm watching if there are any significant movements in either direction but am leaning more towards the bulls due to the overall crypto sentiment.

Posted Using InLeo Alpha