On-chain analytics platform Lookonchain reports that approximately $4.45 million worth of altcoins were transferred to an Alameda-affiliated wallet during the day.
Huge altcoin transaction in Alameda wallet
Analytics platform Lookonchain shared an Alameda-connected 1inch Network (1INCH) whale event on Dec. According to the tweet, an Alameda-linked address requested 11 million 1INCH worth $4.45 million approximately 24 hours ago.
In December 2021, the same address received 12.4 million 1INCH. Of that, 1.4 million 1INCH was transferred to Alameda and the remaining 11 million 1INCH to FTX. Next, the address claimed 12.4 million 1INCH. Transferred funds to FTX on June 2 and 3 of this year.
cryptocoin.comAs you can follow, the 1INCH price is slightly higher than the last 24 hours after the transfers. It was green around 0.3% compared to last week. On the other hand, it has weakened by about 0.02% against Bitcoin (BTC) in the last day. However, it managed to gain around 0.08% against Ethereum (ETH).
However, Project Ren (REN), which has recently left Alamada, is seeing a notable increase in social dominance, development activity and price. Santiment analyzes show that the project is revived after the decision to leave.
REN leaving Alameda soars on various metrics
Project Ren (REN) was acquired by FTX’s sister company, Alameda Research, in early 2021. Later, due to the filing of Episode 11, Ren’s development team decided to “continue” in their own way. According to on-chain data provider Santiment, REN’s social dominance, development activity and price saw notable moves as the project announced its departure from bankrupt Alameda on November 19. Santiment says in his December 27 tweets:
The REN has seen wild price movements here in the final days of 2022 while the rest of the markets are very quiet. About 2 years ago, Alameda bought the project and it was announced that 180 million coins would be minted in preparation for Ren 2.0.
On the breakup day, the REN was trading at around $0.07, according to the data. It rose significantly to $0.13 on Nov. 26. As Alameda prepares to issue 180 million tokens “in preparation for Ren 2.0,” Bahamas-based cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection, which also bankrupted its sister company.
The collapse caused Ren’s developers to “forward” from their partnership with the bankrupt company. According to a press release on REN’s blog, only “4. They have financing until the end of the quarter”. Also, Ren is preparing for another round of funding, as the company may not be able to continue its journey without “additional funding.”
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.