spot_imgspot_imgspot_img

American Billionaire Mark Cuban May Be Divesting from MATIC Coin Investment!

  • American billionaire and Bitcoin investor Mark Cuban unstaked some Polygon (MATIC) tokens on Tuesday and deposited them on the crypto exchange Coinbase.
  • On May 24, 2021, Mark Cuban acquired 2.5 million MATIC tokens from Polygon Ecosystem Growth, which he staked to earn more MATIC.
  • The amounts owned by Cuban significantly decreased after SEC lawsuits. He opposed the SEC’s stance of claiming some cryptos as unregistered securities.

American billionaire and Bitcoin investor Mark Cuban drew attention on Tuesday by transferring some Polygon (MATIC) tokens to a centralized exchange.

Mark Cuban Transfers MATIC Assets

Polygon (MATIC)

American billionaire and Bitcoin investor Mark Cuban unstaked some Polygon (MATIC) tokens on Tuesday and deposited them on the crypto exchange Coinbase. This move coincided with a period where the MATIC price experienced a surge of over 10%, reaching $0.92, despite the U.S. Securities and Exchange Commission (SEC) claiming MATIC, along with other cryptos, as unregistered securities.

Spot On Chain, an on-chain data platform, noticed MATIC tokens valued at $2.82 million from a wallet associated with American billionaire Mark Cuban’s Polygon PoS Staking address. Subsequently, these unstaked MATIC tokens were deposited into the Coinbase crypto exchange on the same day.

Mark Cuban acquired 2.5 million MATIC tokens from Polygon Ecosystem Growth on May 24, 2021. He staked them to earn more MATIC. Currently, Cuban’s wallet holds 16 MATIC tokens, along with other cryptos such as WETH, ETH, ILV, and BNB. The wallet currently has only $3,340 worth of cryptocurrencies.

The amounts owned by Cuban significantly decreased after SEC lawsuits. He opposed the SEC’s stance of claiming some cryptos as unregistered securities. Recently, he joined forces with Elon Musk to submit a joint briefing for the U.S. Supreme Court case US SEC v. Jarkesy, questioning how the SEC conducts non-jury internal proceedings.

MATIC Price Retracts from Resistance

MATIC price has dropped by 5% in the last few hours but still shows a 2% increase in the last 24 hours. The price is currently trading at $0.89. The 24-hour low and high are $0.854 and $0.921, respectively. Moreover, the trading volume has increased by 32% in the last 24 hours, indicating a rise in trader interest.

On the 1-hour time frame, MATIC is trading within the Bollinger Bands, above the 20-day moving average. The RSI indicates there is still room for another upward momentum. However, the $0.92 resistance continues to limit further upward movement.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?