POL Supply Surge: Polygon-linked Wallets Dump 18M Tokens

Polygon-linked wallets have been selling off their holdings of POL, resulting in a surge in exchange supply. The amount dumped is significant, totaling around 18 million tokens. This sell-off has put downward pressure on the token's price, which is currently trading near $0.70.

The surge in exchange supply due to these sales may be causing some concern among investors and traders. However, it's essential to note that this development does not necessarily indicate a bearish trend for Polygon as a whole. The platform continues to gain traction and adoption, with various use cases and applications being developed on its network.

The $0.70 support level is now in play, and a breach of this price could potentially lead to further declines. However, it's also possible that the token's price could stabilize or even bounce back if buyers step in to absorb some of the selling pressure.