Wallet 0xbb1 (linked to the Polygon Foundation) just deposited another 5.49M MATIC ($2.86M) to Binance:

• transaction: 0x8013c96ea13bd07c642df3c0632d704d370817643db9f81f9f937cad085665ef
• address: 0xbb17df03eda64cef6246956fcdc173fa5ab42751

In total, the wallet has deposited 15.49M MATIC to Binance at an average price of $0.523 ($8.1M) in the past 5 days. Notably, all of the wallet's MATIC tokens originally came from the Polygon Foundation contract in April 2023, when the price was $1.1 (more details here).

Currently, the wallet still has 13M MATIC ($6.78M) under staking with Polygon.

Lastly, note that on September 4, the 1:1 migration from MATIC to POL, which has a bigger total supply and different tokenomics, will take place.

Fig 1. The 4 latest MATIC transactions by Wallet 0xbb1 (linked to the Polygon Foundation).

Fig 2. Wallet 0xbb1 (linked to the Polygon Foundation)'s overall MATIC unloading history.

Fig 3. The total supplies of MATIC versus POL, according to CoinMarketCap.