A whale/institution transferred 12.94 million MATIC to CEX 10 hours ago

According to on-chain analyst Yu Jin, a whale/institution continued to transfer altcoin tokens into the exchange 10 hours ago: 12.94 million MATIC (worth $7.96 million) were transferred into Binance through two addresses. These MATICs were purchased at an average price of about $0.945 during the period from November 2023 to February 2024, and are now being transferred into the exchange at a price of $0.615, likely resulting in a loss of $4.27 million (-35%).