According to cryptocurrency onchain data, there was a remarkable development regarding the altcoin that Binance will list yesterday.
Onchain data showed that the multisig wallet belonging to the developers of Cookie DAO (COOKIE), which was announced to be listed on the cryptocurrency exchange Binance yesterday, transferred 20 million tokens worth $12.55 million to the cryptocurrency exchange following the listing news.
The multisig wallet in question received 75 million COOKIE tokens from Cookie’s original distribution wallet on June 13, 2024. Despite the recent transfers, the wallet still has a large amount of tokens worth $11.33 million.
However, the purpose of sending the tokens to Binance is clear, but it is thought that altcoin developers may have transferred tokens for the purpose of selling. In addition, among the possibilities, it may be the transfer of the amount requested by Binance as a listing fee or an agreement requested by Binance that includes locking the tokens for a period of time.
COOKIE has lost 10% of its value in the last 24 hours and is trading at $0.509 at the time of writing. The altcoin has a total market cap of $163 million.
*This is not investment advice.