Polygon multisig address transfers 52.928 million POL tokens to the staking contract, worth approximately $4.82 million.

On October 25 that monitoring data from Arkham shows the address marked as a Polygon multi-sig wallet, “0xFA5”, transferred a total of 52.928 million POL tokens to the staking contract address yesterday, worth approximately $4.82 million.

Polygon previously announced that it would use 27.3 million POL tokens to fund staking rewards between October 1 and December 1 under the PIP-92 proposal. Market analysis indicates that this arrangement may provide some support for POL, helping to ease its downward price pressure.