Arkham-tracked wallet 0x5EC previously bought 25 million POL at about $0.1228 each, spending roughly $3.07 million, according to ChainCatcher. The wallet then posted the tokens as collateral on Aave and borrowed about $1.4 million, which was used for trading on Binance. After POL fell in price, the wallet withdrew $1.4 million to repay the loan and recover the pledged POL. It later transferred 10 million POL to Binance, with the report valuing that batch at about $987,000. Based on the figures cited in the report, a sale at that level would imply a loss of nearly $400,000 on the transferred tokens. The move was flagged by Arkham as on-chain activity tied to a large holder.
ChainCatcher reported, citing Arkham monitoring, that whale wallet 0x5EC had previously bought 25 million POL at about $0.1228 per token, for a total outlay of roughly $3.07 million.
The wallet later used the POL holdings as collateral on Aave and borrowed around $1.4 million. That capital was then used for trading on Binance.
After POL declined in price, the wallet withdrew $1.4 million to repay the loan and retrieve the pledged POL. It then transferred 10 million POL to Binance, valued in the report at about $987,000. Based on those figures, selling the transferred tokens would result in a loss of nearly $400,000.
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