In the recent activity in the cryptocurrency world, three leading altcoin projects Uniswap, MOBOX and dYdX have made significant asset transfers. This movement of altcoins raises questions and curiosity within the crypto community. Here are the details…
Uniswap Foundation moved $40 million worth of altcoins
On October 29, Lookonchain data revealed that the Uniswap Foundation had made a series of transfers over the past six days. The foundation moved a staggering 9.8 million UNI tokens, with a total value of approximately $40.66 million. Among these transfers, 3.4 million UNI tokens worth approximately $14.1 million went to OKX. Additionally, 3 million UNI tokens worth approximately $12.45 million are transferred to Kraken’s custody. Finally, the remaining 3.4 million UNI tokens worth $14.1 million were sent to FalconX.
Mobox takes back 6.5 million MBOX
In another development on October 29, the MOBOX team initiated the buyback of its own MBOX tokens. On-chain data recorded that 6.5 million MBOX tokens worth $1.87 million were transferred from Binance to address 0X99AE. cryptokoin.com As we have reported, the concept of crypto buyback and cryptocurrency burn refers to the practice of companies buying back their tokens from the market and then destroying them. This is done to reduce the total number of altcoins in circulation and positively affects the price of the tokens.
dYdX Foundation also transmits DYDX
dYdX Foundation, known for its decentralized derivatives exchange, left a significant mark in the crypto world by transferring 141.53 million DYDX tokens worth $331 million to new cryptocurrency addresses. Notably, one of these addresses, 0xf95, which had been dormant for nearly two years, transferred all 112.87 million DYDX tokens worth $264 million to a new address, 0xe1b. This action raised questions about the foundation’s future plans and investment strategies.
Additionally, the postponement of the launch of 102.5 million DYDX tokens, representing 10.25% of the total supply, until December 1, 2023, caused a rapid price increase of 87% within a week. This decision highlights the impact of governance and token issuance schedules on cryptocurrency markets. dYdX: Token Wallet Another address linked to dYdX, known as 0xcc9, moved 28.66 million DYDX tokens worth $67.1 million to a new address called 0xf4d. Despite this transfer, dYdX: Token Wallet 0xcc9 still holds a significant amount of DYDX, with 28,661,255 DYDX tokens worth $68.2 million.
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