A Polygon multisig wallet labeled "0xFA5" transferred 52.93 million POL — valued at approximately $4.82 million — to a staking contract address on October 24, according to Arkham Intelligence monitoring data. The large stake coincides with Polygon's earlier announcement under the PIP-92 proposal to allocate 27.3 million POL from network fees toward staking rewards from October 1 through December 1. The program is expected to provide additional support for POL and help ease downward price pressure on the token.