NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Raydium DEX's AMM Program Exploited For $1.34 Million — Here's What Went Wrong
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Raydium DEX's AMM Program Exploited For $1.34 Million — Here's What Went Wrong

Polygon (MATIC) Large Transactions Explode 742% Amid Latest SEC Attack

Christian Encila
Christian Encila
Last Updated: June 7, 2023 9:34 am
3 mins read
Polygon

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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. 

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. 

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

Shiba Inu Investors Go All-In: 338 Billion Token Accumulation Signals Bullish Cue

3 years ago

Surge In Large Transactions On Polygon Network Raises Speculation 

Large transactions within the cryptocurrency market are often viewed as indicative of whales’ 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’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’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’s largest crypto exchanges, for alleged securities violations. 

According to the SEC’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’s Price, Market Cap Were Cut In Half

3 years ago

Coinbase’s 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

— Gary Gensler (@GaryGensler) June 6, 2023

The SEC’s lawsuit against Coinbase alleges various breaches of securities rules. SEC Chair Gary Gensler took to Twitter on Tuesday to assert that Coinbase’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

Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

Christian Encila is a journalist, editor, crypto analyst, and virtual assistant focused on storytelling, financial markets, and digital media. He blends strong writing skills with in-depth analysis, turning complex information into clear, accessible insights.

Read more

His writing began in college as a feature writer for his school publication, building research and storytelling skills. He later worked as an editor at a data engineering firm, gaining recognition for writing and discipline.

He expanded internationally in Canada and South Korea, then returned to the Philippines for a decade in a major newsroom. There he became a senior news writer and editor, simplifying complex topics for broad audiences.

He later moved into cryptocurrency journalism as a crypto analyst and market expert at NewsBTC, covering trends and blockchain developments. Alongside writing, he works as a Virtual Assistant supporting editorial operations, workflows, and coordination tasks.

Outside work, he enjoys motorbikes, riding a Yamaha R3, preferring relaxed coastal rides. He spends time with two cats and a dog, and unwinds with coffee, Filipino food, and occasional rum while watching comedy films.

His career blends journalism, analysis, and support roles, reflecting adaptability across media, markets, and digital content production in modern newsroom environments and remote work settings globally.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Orderly Network Surpasses $100 Billion In Cumulative Trading Volume

In a major development confirmed on SEPTEMBER 30, 2026, Confirmed announcement/filing for Orderly Network Surpasses $100 Billion In Cumulative Trading...

NewsBTC Editorial Team 22 hours ago

Superstate Expands Tokenized Short-Duration US Treasury Fund (USTB) To Base

In a major development confirmed on SEPTEMBER 30, 2026, Confirmed announcement/filing for Superstate Expands Tokenized Short-Duration US Treasury Fund (USTB)...

NewsBTC Editorial Team 23 hours ago

MEXC Leads SOL and DOGE Market-Price Liquidity in CoinGecko’s 2026 CEX Report

Mutsamudu, Comoros, September 30, 2026 – MEXC, a pioneer in 0-fee digital asset trading, led the exchanges studied in order...

BlockmanPR 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

TopNod Wallet Debuts Access to Axil’s APT (Axil Pot), a T+0 On-Chain Yield Product for Everyday Idle Liquidity

BlockmanPR 8 hours ago

MEXC adds another 1,000 BTC to Guardian Fund, strengthening user protection

BlockmanPR 8 hours ago

EigenLayer Unveils Dual-Staking Extension For Bitcoin Asset Security

NewsBTC Editorial Team 21 hours ago

Premium Sponsors

Press Releases

  • apple

    How to Spend Crypto on Apple Pay in 2026 (No Selling)

    2 weeks ago
  • LBank Launches Card Referral Campaign to Accelerate...

    2 weeks ago
  • LBank Launches 72-Hour Mystery Box Challenge on LBank Pay...

    2 weeks ago
  • LBank Kicks Off Cash Payment Challenge to Reward Users for...

    3 weeks ago
  • watt

    September 2026 Token Sales Worth a Closer Look: Watt2Trade...

    3 weeks ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.