According to on-chain analyst Ember Monitoring, LayerX Capital received/bought 11.88 million MATIC ($28.33 million) from Binance and Wintermute at an average price of $2.38 near the historical high price of MATIC in December 2021 and deposited it for PoS pledge.
Then starting from March 2022, MATIC will be redeemed and transferred to Binance one after another. So far, a total of 10.57 million MATIC (USD 8.62 million) has been redeemed and transferred to Binance in more than a year, with an average price of USD 0.815. At current prices, LayerX Capital’s MATIC investment is currently losing $13.29 million (-47%).
Earlier today, it was reported that LayerX Capital deposited 3.62 million MATIC ($3.31 million) into Binance about 10 hours ago at an average price of $0.916, and it is still staking 7.18 million MATIC ($6.38 million) in Polygon.