After the SEC's lawsuit against Binance, the wavelength rose in Bitcoin and altcoins.
While some whales are buying the fear, some institutional players are selling their altcoins to escape the sphere of influence of the SEC lawsuit.
US exchange Nexo, which provides crypto custody services to institutional investors, sent 12.22 million MATICs worth $ 7.9 million to Binance 3 hours ago.
While the reason for the transfer reported by Lookonchain is unknown, it is considered that such heavy transfers sent to central exchanges may be sales-oriented.
Nexo already has 8.9 million MATIC in its wallets.
