Binance Labs, the investment arm of Binance, one of the world’s largest cryptocurrency exchanges, attracted attention with its altcoin transfers.
Binance Labs makes strategic investments HOPR And to STEPN (GMT) belonging to millions dollar transferred its worth of tokens to the exchanges.
Powered by on-chain analysis platform Lookonchain to data According to the wallet marked as belonging to Binance Labs, $3.7 million worth 96.67 million HOPR Cryptocurrency exchange on October 19 to Gate.io transferred.
96.67 million HOPR transferred, almost 25% of the circulating supply It corresponds. After the transfer process HOPR/USDT trading pair on Gate.io A 20% pump-dump lived. price in short time $0.038 from level to $0.046 After reaching it, he returned to the starting point at the same speed.
Although Binance Labs invested in HOPR, it is estimated that the altcoin was sent to Gate.io because it was not listed on Binance. However, it is not known why he chose Gate.io instead of other exchanges.
The wallet in question was transferred in parallel with its first transfer. $1.05 million worth 7.5 million GMT cryptocurrency exchange to Binance transferred.
Binance Labs, 2020 for HOPR in $1 million strategic investment He led the tour. on the other hand 2022 In a blog post shared in Binance Labs made a strategic investment in GMT place was given. Following transfer transactions from Binance Labs at GMT’s price There was no visible change.
Although there is no clarity regarding the purpose of the transfer transaction, market experts consider these transactions pre-sale preparation commented as.