What happens if an altcoin moves towards cryptocurrency exchanges in the cryptocurrency world? Obviously the answer to that means a sale. When such a move happens, investors inevitably start to get scared. There is such a movement now.
2 altcoins flowed to Binance
There are two altcoins moving towards Binance. The movement is so effective that it has caused fear and suspicion in the market. At the same time, the movements took place today. The first move was made by DWF Labs. Now what will DWF Labs say? DWF Labs is a market maker and web3 investment firm operating in the cryptocurrency industry. The company has activated the altcoin YGG. The amount taken action is 3.65 million YGG in total. The transaction took place at a price of $0.144. The total value of the transaction is 524 thousand dollars.
This move by DWF Labs is not new. There have been similar movements before. cryptocoin.com As we have mentioned above, there was a similar movement about four months ago. At that time, the altcoin YGG with a value of 204 thousand dollars went to Binance again. However, at that time, the price of the token was $0.292. That was twice the current level. DWF Labs still has 3 million 650 thousand YGGs worth 529 thousand dollars. At the same time, DWF Labs is one of Yield Guild Games’ investors in 2022.
Other cryptocurrency traveling to Binance
There is another altcoin that is on the way to Binance and is subject to sale. That’s the altcoin APE. Yuga Labs is sending APE. Now you will ask what is Yuga Labs? Yuga Labs is a blockchain technology company known for creating the Bored Ape Yacht Club (BAYC), the world’s largest and most profitable NFT project to date. The company really has a great reputation. In this context, every step he takes draws attention.
The final step is to transfer the altcoin APE to the stock market. Yuga Labs metaverse project mobilized 16.78 million APE from land sale by Otherside on May 1 last year. The profit from the sale of the land is truly astonishing. It was at the level of $335 million at the time, as it was a sale last year. However, it now stands at $34 million. When we look at it numerically, there is a situation that decreases to one in ten.
Meaning of gestures
Most movements are treated as a subject of sale. Indeed, there is such a perception in the cryptocurrency world. However, it is sometimes possible to see it as a transition between accounts. But no matter what, such big movements will always remain the center of attention.
