Some movements attract attention in the Bitcoin and altcoin world after the recent low rallies. This situation reflects directly on us, especially when the movements are from the team of the projects. Since chain activities are monitored, it is impossible for these movements to be overlooked. A recent move has come from the altcoin LOOM team. The timing of the move is not very interesting. Because LOOM is a cryptocurrency that has experienced a significant price increase.
Altcoin LOOM sale attracted attention
Cryptocurrency LOOM, which has been the center of attention in the crypto world lately, attracted the attention of investors with its remarkable price increases. In the past month, LOOM has increased sevenfold, making it one of the crypto market’s most profitable assets. On the other hand, as cryptokoin.com, altcoin LOOM was at the center of criticism as we stated this morning. Accordingly, Chiliz’s founder, Alexandre Dreyfus, made statements targeting the altcoin LOOM. But despite the criticism, the rise of LOOM has seen the Loom Network continue to grow in popularity.
2 hours ago, wallet 0x07f (related to the @loomnetwork Team) deposited 7.154M $LOOM ($2.03M) to #binance at $0.283.
Notably, $LOOM is already up by 542% in the last 1 month.
Keep pumping or not? pic.twitter.com/oZhf7a5PFt
— The Data Nerd (@OnchainDataNerd) October 13, 2023
At a time when this increase occurred, the move of the altcoin LOOM team attracted attention. Accordingly, the Loom Network team started selling LOOM. Thus, while LOOM has been experiencing dramatic fluctuations in recent days, it is faced with sales from the Loom Network team as of today. The Data Nerd, a well-known data provider, shared this information on page X. In his statement, he points to two hours ago and emphasizes the 0x07F wallet associated with the Loom Network team. Accordingly, it is noted that the relevant wallet deposited 7.154 million LOOM tokens to the Binance exchange. Accordingly, the numerical equivalent of the deposited amount is exactly 2.03 million.
What was the aftermarket price?
If the Loom Network team continues to sell LOOM in the coming days, this could lead to significant declines in the popular altcoin. Investors are now watching with interest to see if these sell-offs will impact altcoin LOOM’s striking price trajectory. LOOM’s remarkable rise has made it a hot topic in the cryptocurrency industry. While not immune to criticism or team sellouts, LOOM is attracting attention. On the other hand, it remains a focal point for investors who want to see where this altcoin’s journey will take them.
When we look at the aftermarket price of Altcoin LOOM, we see that it is currently trading at $ 0.26. Accordingly, LOOM’s rise in the 24-hour period is around 23%. Let’s see how the price movement will take shape in the following periods.
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