Polygon Whale Moves 5.64 Million POL tokens to Coinbase, Making $1.32 Million

Today, Polygon (POL) has captured interest in the crypto community after a whale adjusted its position amid decreased market performance. POL has recently experienced significant sluggish movements.

Whale offloads 5.64 million POL tokens

According to data shared by Onchain Lens today, a whale deposited 5.64 million Polygon tokens worth $2.28 million into Coinbase at an average price of $0.4042.

The whale bought these coins for $3.6 million over the past two months. This means that he accumulated the tokens at an average price of $0.638 during that time. As per data, the whale is currently facing a loss of $1.32 million.

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This action by this investor signals that large POL holders are offloading huge amounts of the altcoin on various exchanges, an activity that is contributing to Polygon’s recent declines.

It appears several investors are reacting to current market conditions by liquidating some of their assets. Today, cryptocurrency markets turned red following declines in US stock market futures and shocking details of China’s DeepSeek, which stunned US investors.  However, selling activity often triggers pressure in the market as whales normally have a significant influence on the prices.

Polygon price updates

Since mid-last month, POL price has been moving in a tight range between $0.43 and $0.53. This pattern suggests that the altcoin is in a correction trend. Recently, crypto analyst Ali Martinez confirmed that this trend has remained relatively stable for some time.

Martinez elaborated on how the consolidation phase has been behaving in the Polygon market. He pointed out that every time the price moves near $0.43, investors come in and buy the token and begin pushing the price up. On the other hand, every time the price moves up closer to $0.53, sellers come in and sell tokens for profit-taking agendas, eventually pulling the price within that range.

POL price is currently trading at $0.4145, down 5.1% in the last 24 hours. Its price has been down 9.5% in the last seven days, meaning that is underperforming the global digital asset market, which is down 3.10% currently.

Market analysis shows that Polygon is primed to experience an uptrend this year, fueled by positive sentiment surrounding a friendly regulatory environment pushed by President Trump.