ORBS, the altcoin that Binance recently listed on futures, experienced a sharp price drop today.
According to Lookonchain's post, the Orbs team took advantage of the rise in ORBS and started making sales.
At this point, two cryptocurrency wallets affiliated with the Orbs team deposited 81.8 million ORBS worth $4.25 million into OKX.
After this transfer news, there was a 25% decrease in the ORBS price.
“The Orbs team appears to be selling ORBS tokens.
“2 wallets linked to the Orbs team deposited a total of 81.8 million ORBS (worth $4.25 million) to OKX in the last 16 hours.”
0xC13A wallet received 134 million ORBS (worth $7 million) from 'Orbs: Team and Founding Partners Wallet' and deposited 61.8 million ORBS (worth $3.2 million) to OKX.
Wallet 0x33B5 received 94.3 million ORBS (valued at $4.9 million) from the 'Orbs: Long Term Reserves Wallet' and deposited 20 million ORBS (valued at $1.04 million) into OKX.
There are currently 153.4 million ORBS left ($8 million worth) distributed from 2 wallets linked to the Orbs team to 3 wallets.
Watch out for these 3 wallets that may continue to sell.”
ORBS continues to trade at $0.051 at the time of writing.
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The #Orbs team appears to be selling $ORBS after $ORBS rose.
2 wallets received $ORBS from the #Orbs team and deposited a total of 81.8M $ORBS ($4.25M) into #OKX in the past 16 hours. pic.twitter.com/BayAtHG5BO
— Lookonchain (@lookonchain) October 18, 2023
*This is not investment advice.
