Recently, altcoin moves by various large companies and investors have attracted attention. In particular, BLUR, which took flight with Binance’s listing, is facing sales pressure due to the price increase. Latest data also shows that some investors are selling. Here are the details…
Sigilfund sold BLUR
SigilFund, one of the leading players in the cryptocurrency investment field, once again attracted attention with its latest strategic moves. According to data from on-chain analysis platform Lookonchain, on November 24, the fund completed a transaction involving the sale of 1.55 million BLUR tokens worth $970 thousand through decentralized exchanges (DEX). In a notable twist, SigilFund used the proceeds to purchase 807,799 Immutable (IMX) tokens worth $1.14 million and 210,905 Lido Finance (LDO) tokens worth $540 thousand.
It seems that #SigilFund sold $BLUR to buy $LDO and $IMX.#SigilFund deposited 1.55M $BLUR($968K) 2 hours ago.
Then withdrew 807,799 $IMX($1.14M) and 210,905 $LDO($540K) 1 hour ago.https://t.co/zYVXd8bR9i pic.twitter.com/3MwPhIMGv6
— Lookonchain (@lookonchain) November 24, 2023
This decision followed the fund’s previous signal by withdrawing 3.1 million BLUR from the cryptocurrency exchange OKX three days ago. The timing coincided with Binance’s announcement that it would list BLUR on November 24, prompting various market participants, including major holders, to take action. As we reported as Kriptokoin.com, BLUR experienced a 2-fold increase shortly after the second airdrop event last Tuesday. Additionally, after being listed on Binance yesterday, it reached $0.62, an increase of 15.6% in 24 hours.
DWF Labs sent FET to Binance
Separately, Lookonchain tracking reveals that DWFLabs deposited a significant sum of 750,000 FET ($419,000) to Binance on November 24. The current holding stands at 7.05 million FET ($3.95 million). Notably, DWF Labs withdrew 10 million FET ($2.15 million) from Binance on August 25, with the average price at the time being $0.215, resulting in a current profit of approximately $2.74 million.
Polygon fund transferred $16 million to Binance
Additionally, on-chain data analyst Ember Monitoring reported that 5 addresses received a total of 21.86 million MATIC (approximately $16.6 million) from Polygon’s Ecosystem Growth on November 16. Tokens were transferred to Binance via GSR Markets’ deposit address. Despite the distribution of 217 million MATIC on November 16, the price of MATIC has experienced an 18% drop in the last three hours, falling from $0.93 to the current $0.759.
SigilFund’s latest transaction, combined with DWFLabs’ strategic deposit and MATIC movement, is notable. In particular, it adds depth to the evolving landscape of cryptocurrency investments. Because it reveals the dynamic nature of the market and the strategic decisions taken by the big players.
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