The cryptocurrency market has been on the agenda lately with the activity of both large investors (whales) and institutional investors. The cryptocurrency market has been very active lately. Behind this activity lies the large-scale transfers made by investors to different stock exchanges. On March 3, DWF Labs, Amber Group, and a big whale made token transfers worth millions of dollars, including the ARB coin, leading to a remarkable development in the market. In this article, we will examine the transfers of these three actors and analyze what these transfers could mean for the cryptocurrency market.
DWF Labs transferred FET tokens to Binance
According to the post of cryptocurrency market follower @ai_9684xtpa dated March 3, DWF Labs transferred 2.05 million FET to Binance 5 minutes ago. The value of this transfer is approximately US$3.87 million. With this transaction, all FET positions held by DWF Labs were transferred. Between February 29 and March 3, DWF Labs deposited a total of 3.05 million FET tokens (at a cost of 0.2 USD) to central exchanges (CEX). If these tokens are sold completely, it means a profit of $ 4.56 million for DWF Labs.
Amber Group transferred the ARB coin project to Coinbase
According to another post from the same tracking account dated March 3, Amber Group transferred 1 million ARB to Coinbase 3 minutes ago. The value of this transfer is approximately 2.06 million dollars. Amber Group transferred a total of 2 million ARB tokens to centralized exchanges in the last three days. The total value of these transfers was recorded as 4.03 million dollars.
Balina removed ARKM and PEOPLE tokens from Binance
According to the post of @EmberCN account, which follows cryptocurrency market data, a large investor (the address qklpj.eth is thought to belong to the whale) transferred 4 million ARKM and 55.12 million PEOPLE tokens from Binance in the last two days. The total value of these transfers is US$10.66 million and US$2.67 million respectively. 1.01 million ARKM was transferred from the same address to another address, which is thought to belong to the same whale, 9 hours ago.
Although the reasons for these transfers are not yet clear, there may be various reasons why investors move their cryptocurrencies to different exchanges. Among these; These include taking advantage of additional services such as staking and lending offered by different exchanges, diversifying your assets to protect yourself from market fluctuations or evaluating different investment opportunities.
The activity in the cryptocurrency market is expected to continue in the coming days. For this reason, it is important for investors to follow the market closely and make investment decisions carefully.
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