Attention: These 6 Altcoins Are Being Offloaded to Exchanges and Different Addresses!

On-chain data pointed to significant transfers, particularly for several altcoin projects. In this article, we will talk about the latest and noteworthy transfers. Here are the details…

PYTH is preparing for airdrop

According to Solscan data, Pyth Network’s native token, PYTH, has recently initiated a series of transfers and transactions with the increase in onchain activities. It is estimated that the transactions, including a test transfer of 1 PYTH and hundreds of millions of integer numbers, are in preparation for an upcoming airdrop event. The PYTH contract address, HZ1JovNiVvGrGNiiYvEozEVgZ58xaU3RKwX8eACQBCt3, has been actively engaged in minting and burning money, and the contract address is now featured on crypto data platforms Coinmarketcap and CoinGecko.

Earlier today, Pyth Network made an official announcement expanding airdrop coverage for DeFi participants. While the initial airdrop allocation was set at 200 million PYTH tokens, an additional 55 million PYTH tokens were added, bringing the final airdrop allocation to an impressive 255 million PYTH. The blockchain community is watching these developments closely and eagerly awaiting the outcome of Pyth Network’s strategic moves leading up to the airdrop.

OP transfer from Cumberland

Scopescan data tracking reveals that on October 16, an address linked to Cumberland transferred 1.3 million OP tokens to Coinbase, amounting to approximately $2.4 million. The transaction reflects Cumberland’s dynamic moves in the crypto space and raises questions about the reasons behind such significant transfers. The cryptocurrency community is carefully watching these large-scale transactions, speculating about Cumberland’s potential motives and impact on the broader market.

Millions of dollars of DYDX goes to Kraken

In other news, Lookonchain monitoring reported a surprising development on November 16, when an address that had been dormant for 730 days initiated a transfer of $4.97 million worth of DYDX (1.2 million coins) to Kraken. The wallet, which currently holds DYDX tokens worth $ 11.6 million, received 4 million DYDX from the dYdX Foundation wallet address in 2021. This unexpected activity sparked debate within the crypto community about the significance of the dormant address revival and its potential effects on the DYDX market.

FTX moves altcoin TRX to Binance

Additionally, PeckShield points to a significant transaction on November 16, where an FTX address transferred $7.8 million worth of TRX to Binance. The movement of such a significant amount of TRX leads to speculation about the reasons behind the transfer and its potential impact on the crypto market.

Altcoin whale owner of RNDR sent $7 million to Coinbsae

Finally, Scopescan reveals a notable incident when a whale deposited all 2.3 million RNDR tokens, approximately $6.9 million, into Coinbase after hoarding RNDR for nearly two years. The current price of RNDR is $3.00 and is trading with a 24-hour increase of 29.17%.