According to data provided by cryptocurrency tracking platform Arkham, a crypto whale has made a significant move following recent changes in the market.
According to the data, a Reserve Protocol (RSR) whale with the short address 0xaa…17b3 sent 680 million RSR tokens to Binance today. This amount corresponds to $12.84 million in dollar terms. As is known, the RSR token has experienced a major rally in the last seven days, experiencing a more than 100% increase in price.
The reason for the rise is thought to be US President-elect Donald Trump’s nomination of Paul Atkins, a cryptocurrency ally, for SEC Chairman. Atkins served as an advisor to the Reserve Protocol. Atkins, who is also a former SEC member, is believed to be a name that will breathe new life into the entire cryptocurrency market.
RSR, which is also listed on Binance, has a market cap of around $1 billion at the time of writing. On the other hand, the token is trading 84% lower than its all-time high price recorded in 2021.
*This is not investment advice.