Crypto NewsAltcoinDevelopers Receiving Altcoin Tokens After Massive Unlocking, Transferring Huge Amount to the...

Developers Receiving Altcoin Tokens After Massive Unlocking, Transferring Huge Amount to the Exchanges

According to Onchain data, in one altcoin, the developers transferred the loaded altcoin they received directly to the cryptocurrency exchange.

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Multisig 0x062 wallet, owned by Space ID altcoin developers, deposited 30 million ID ($18.56 million) into OKX at a price of $0.619 per SPACE ID (ID) token.

The move comes after the Space ID Foundation unlocked 18.48 million ID tokens worth $11.34 million. 12.65 million ($7.76 million) of the unlocked altcoins were sent to the wallet with short address 0x062 on the Ethereum network, and 5.83 million ($3.58 million) were sent to address 0x9c2 on Binance Chain.

Since August 22, 2023, the 0x062 multisig wallet has received a total of 88.57 million ID ($25.45 million) from seven launch events. Of these tokens, 47.65 million IDs were deposited directly into OKX at an average price of $0.552 ($26.29 million).

On the other hand, the 0x9c2 wallet on Binance Chain continues to hold the 40.83 million ID tokens ($25.36 million) it has received so far without selling them.

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On the other hand, another whale with short address 0xe60 withdrew 161,479 WLD ($1.19 million) from OKX and paid an average price of $7.34 per WLD purchased. Remarkably, the whale pulled a total of 370,477 WLD ($2.08 million) from OKX between February 16-22, 2024, at an average price of $5,608.

Currently, the 0xe60 whale continues to hold all the WLD tokens he has withdrawn, and his estimated profit is now $997,183 (+48%). This situation emerged after the WLD price recorded a significant increase of 25.8% in the past day.

*This is not investment advice.



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