A cryptocurrency whale sparked controversy in the crypto community after depositing a large amount of Fantom (FTM) altcoins on the world's leading crypto exchange Binance.
According to the data received, the whale transferred 9.75 million FTM tokens worth approximately $3.2 million to Binance from an unknown wallet a few hours ago today.
When Whale first purchased these tokens on Binance, the FTM price was around $0.40. Considering that the FTM price was $ 0.33 at the time of this writing, if the whale sells right now, it will incur a huge loss of $ 360,000.
FTM is known as the native token of Fantom, a fast and scalable blockchain platform that supports smart contracts and decentralized applications.
As it is known, it was claimed that the Multichain (MULTI) altcoin team was arrested in China today. Following the development, the Fantom Foundation pulled $2.4 million from the liquidity of the protocol's native MULTI tokens on the decentralized exchange SushiSwap, making the tokens tradable.
The founder of Phantom, a computer scientist and entrepreneur who has been involved in various IT initiatives in South Korea, Dr. Ahn Byung Ik. He is also the president of the Korean Food Technology Association and the director of the Korean Blockchain Association.
*Not investment advice.