The price of LINA, the token powering the Linear Finance platform, fell more than 10% from its daily high after Jump Trading, a major cryptocurrency asset management company, moved 249 million LINA tokens from its wallet.
Jump Trading has moved its LINA tokens for the first time since purchasing it from FTX, a popular crypto exchange at the time, 516 days ago. At that time, the average entry price of Jump Trading's LINA tokens was $0.007. At the current price of $0.018, Jump Trading's LINA investment yielded a 143% return.
Of course, this only applies if the company makes sales, it is not clear whether it has made any sales yet.
LINA is a token that allows users to create and trade synthetic assets on the Linear Finance platform running on both Ethereum and Binance Smart Chain. LINA had a strong performance in the last 24 hours, gaining 20% to reach $0.021. However, after Jump Trading broke news of the transfer, LINA's price dropped to $0.017, erasing some of its gains.
It is unclear why Jump Trading decided to move LINA tokens after holding them for over a year.
*Not investment advice.
