Institutional funds like Terraform Labs and 1inch have started to cash out altcoin wallets. In particular, AVAX attracts heavy sales with the gains it has achieved after the Ripple victory.
Terraform Labs has sold a total of 687,000 AVAX since May 30
Terraform Labs has cashed out $9.76 million worth of AVAX since May 30, according to on-chain researcher Ember Monitoring. The company sold a total of 687,000 AVAX at an average price of $14.2. There are currently 398,000 AVAX (about $5.8 million) at the address.
Meanwhile, Thursday, July 13 saw many altcoins rally, including Avalanche (AVAX). The New York court ruled in favor of XRP in the SEC case on this date. The AVAX rally rallied as high as $15.97, a total gain of 24% in the last two days.
Terraform Labs, the company behind the Terra ecosystem, had sold 20 million LDOs in March. The company was one of the names participating in Lido Finance’s $2 million funding round in December 2020. With this sale, he has liquidated his position over $30 million in recent months.
1inch sells millions of ETH
Popular decentralized exchange 1inch recently tested the latest protocol update targeting the Fusion platform. During the testing period, it sold about 11,000 ETH worth millions of dollars.
1inch traded 11,000 ETH for DAI, followed by MakerDAO’s interest-bearing token, CHAI. Project member Kunz said, “Our team is testing the new feature in Fusion mode. It is possible to use custom preset to start and end the time, auction. This type of strategy is very useful for rebalancing assets. According to the results, the trade was performed at a better average rate compared to just a market swap.”
Meanwhile, 1inch is testing various features for its Fusion update, which powers the exchange’s Clearing Engine to connect users with professional market makers who provide liquidity. Launched in December, the upgrade allowed for more cost-effective transactions with added security.
A Lido node operator transfers 4 million LDOs to Binance
Lido node operator and investor Certus One is transferring large amounts of LDO to Binance, according to Ember Monitoring. To date, it has transferred 2 million LDOs worth approximately $4.6 million to Binance. In total, he transferred about 4 million LDOs to his Binance wallet. Previously, Certus One deposited 1,999,900 LDO on Binance in the early morning of July 14.
Meanwhile, during Certus One’s LDO transfer to Binance, he witnesses huge transfers in FTM and ETH. cryptocoin.com As we have reported, several whales have started to cash out their Binance wallets today.
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