{"id":536807,"date":"2023-06-07T09:34:07","date_gmt":"2023-06-07T09:34:07","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=536807"},"modified":"2023-06-07T09:34:07","modified_gmt":"2023-06-07T09:34:07","slug":"polygon-matic-large-transactions-explode-742-amid-latest-sec-attack","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/polygon-matic-large-transactions-explode-742-amid-latest-sec-attack\/","title":{"rendered":"Polygon (MATIC) Large Transactions Explode 742% Amid Latest SEC Attack"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Polygon (MATIC) recently experienced a sudden surge in large transactions. These sizable movements of funds on the network have caught the attention of market observers, prompting speculation about the motives and actions of cryptocurrency whales.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The catalyst behind this flurry of activity appears to be the recent lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and Coinbase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As regulatory uncertainties loom over the industry, the surge in large transactions on Polygon has become a key indicator of the strategies employed by these investors.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/shiba-inu-investors-go-all-in\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Shiba Inu Investors Go All-In: 338 Billion Token Accumulation Signals Bullish Cue<\/a><\/div>\n<h2><strong>Surge In Large Transactions On Polygon Network Raises Speculation\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Large transactions within the cryptocurrency market are often viewed as indicative of whales&#8217; actions, serving as a glimpse into the strategies they are formulating.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/app.intotheblock.com\/?pid=bitcoin_com&amp;utm_source=bitcoin_com_widget&amp;end_offset=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\">, an on-chain analytics firm, large transactions are defined as those exceeding $100,000. The firm reports a notable surge in the volume of large transactions on the Polygon network, reaching $64.44 million, which represents a staggering 742% increase within the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The surge in large transactions on Polygon occurs against the backdrop of a broader cryptocurrency market downturn. Following the <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-06\/sec-regulatory-net-now-covers-115-billion-of-crypto-after-suit-against-binance\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">SEC&#8217;s actions<\/span><\/a><span style=\"font-weight: 400\"> against the major crypto exchanges, most cryptocurrencies have experienced declines.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As regulatory uncertainties loom over the industry, market sentiment has been dampened, leading to widespread selling pressure and a decline in prices across various digital assets.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/d6AXiYLy\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">MATIC market cap currently at $7.4 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">As of the time of writing, Polygon&#8217;s native token, MATIC, is trading at $0.804240, based on <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/polygon\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\"> data. Over the past 24 hours, MATIC has witnessed a 2.8% decline, while the past seven days have seen a notable slump of 9.6%. <\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-536810\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?resize=1130%2C64\" alt=\"\" width=\"1130\" height=\"64\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?w=1130 1130w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?w=860 860w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/06\/a-20.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: Coingecko<\/pre>\n<p><span style=\"font-weight: 400\">These downward price movements align with the broader market trend, further emphasizing the challenges faced by cryptocurrency investors amidst the regulatory landscape.<\/span><\/p>\n<h2><strong>SEC Targets Coinbase Following Binance Lawsuit<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a sequence of regulatory actions, the SEC has filed a lawsuit against Coinbase, a prominent cryptocurrency exchange headquartered in San Francisco. The legal action comes just a day after the regulator sued Binance, one of the world&#8217;s largest crypto exchanges, for alleged securities violations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the <\/span><a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-102\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">SEC&#8217;s statement<\/span><\/a><span style=\"font-weight: 400\"> released on Tuesday, the regulatory body accuses Coinbase of unlawfully facilitating the buying and selling of crypto asset securities, generating billions of dollars in revenue since at least 2019.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/pepecoin-frenzy-fades-how-meme-tokens-price-market-cap-were-cut-in-half\/?swcfpc=1\">Pepecoin Frenzy Fades: How Meme Token\u2019s Price, Market Cap Were Cut In Half<\/a><\/div>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Coinbase\u2019s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. <a href=\"https:\/\/t.co\/FwpdmENvoL\" rel=\"nofollow\">https:\/\/t.co\/FwpdmENvoL<\/a><\/p>\n<p>\u2014 Gary Gensler (@GaryGensler) <a href=\"https:\/\/twitter.com\/GaryGensler\/status\/50541825?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 6, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">The SEC&#8217;s lawsuit against Coinbase alleges various breaches of securities rules. SEC Chair Gary Gensler <\/span><a href=\"https:\/\/twitter.com\/GaryGensler\/status\/50541825\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">took to Twitter<\/span><\/a><span style=\"font-weight: 400\"> on Tuesday to assert that Coinbase&#8217;s alleged failures have deprived investors of vital protections, including rulebooks designed to prevent fraud and manipulation, adequate disclosure mechanisms, safeguards against conflicts of interest, and routine inspections conducted by the SEC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This latest development intensifies the regulatory scrutiny surrounding major cryptocurrency exchanges, adding to the ongoing challenges and uncertainties faced by the crypto industry.<\/span><\/p>\n<p><em>Featured image from BohatALA.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon (MATIC) recently experienced a sudden surge in large transactions. These sizable movements of funds on the network have caught the attention of market observers, prompting speculation about the motives and actions of cryptocurrency whales.\u00a0 The catalyst behind this flurry of activity appears to be the recent lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and Coinbase.\u00a0 As regulatory uncertainties loom over the industry, the surge in large transactions on Polygon has become a key indicator of the strategies employed by these investors. Related Reading: Shiba Inu Investors Go All-In: 338 Billion Token Accumulation Signals Bullish Cue Surge In Large Transactions On Polygon Network Raises Speculation\u00a0 Large transactions within the cryptocurrency market are often viewed as indicative of whales&#8217; actions, serving as a glimpse into the strategies they are formulating. According to IntoTheBlock, an on-chain analytics firm, large transactions are defined as those exceeding $100,000. The firm reports a notable surge in the volume of large transactions on the Polygon network, reaching $64.44 million, which represents a staggering 742% increase within the last 24 hours. The surge in large transactions on Polygon occurs against the backdrop of a broader cryptocurrency market downturn. Following the SEC&#8217;s actions against the major crypto exchanges, most cryptocurrencies have experienced declines. As regulatory uncertainties loom over the industry, market sentiment has been dampened, leading to widespread selling pressure and a decline in prices across various digital assets. MATIC market cap currently at $7.4 billion. Chart: TradingView.com As of the time of writing, Polygon&#8217;s native token, MATIC, is trading at $0.804240, based on CoinGecko data. Over the past 24 hours, MATIC has witnessed a 2.8% decline, while the past seven days have seen a notable slump of 9.6%. Source: Coingecko These downward price movements align with the broader market trend, further emphasizing the challenges faced by cryptocurrency investors amidst the regulatory landscape. SEC Targets Coinbase Following Binance Lawsuit In a sequence of regulatory actions, the SEC has filed a lawsuit against Coinbase, a prominent cryptocurrency exchange headquartered in San Francisco. The legal action comes just a day after the regulator sued Binance, one of the world&#8217;s largest crypto exchanges, for alleged securities violations.\u00a0 According to the SEC&#8217;s statement released on Tuesday, the regulatory body accuses Coinbase of unlawfully facilitating the buying and selling of crypto asset securities, generating billions of dollars in revenue since at least 2019. Related Reading: Pepecoin Frenzy Fades: How Meme Token\u2019s Price, Market Cap Were Cut In Half Coinbase\u2019s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. https:\/\/t.co\/FwpdmENvoL \u2014 Gary Gensler (@GaryGensler) June 6, 2023 The SEC&#8217;s lawsuit against Coinbase alleges various breaches of securities rules. SEC Chair Gary Gensler took to Twitter on Tuesday to assert that Coinbase&#8217;s alleged failures have deprived investors of vital protections, including rulebooks designed to prevent fraud and manipulation, adequate disclosure mechanisms, safeguards against conflicts of interest, and routine inspections conducted by the SEC. This latest development intensifies the regulatory scrutiny surrounding major cryptocurrency exchanges, adding to the ongoing challenges and uncertainties faced by the crypto industry. Featured image from BohatALA.com<\/p>\n","protected":false},"author":557,"featured_media":536817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,10768,1144,1393,8686,86442,83584,3799],"class_list":["post-536807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-binance","tag-btcusd","tag-coinbase","tag-ethusd","tag-matic-price","tag-polygon","tag-sec"],"acf":[],"yoast_head":"\n<title>Polygon Large Transactions Explode 742% Amid Latest SEC Attack<\/title>\n<meta name=\"description\" content=\"Polygon (MATIC) recently experienced a sudden surge in large transactions. 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