The latest on-chain movements indicate that some known addresses are sending coins to exchanges. In addition, several large altcoin sell transactions are also worth noting. Here are the big transactions that take place according to on-chain data…
Bastion Trading transfers $135 million to Binance
According to Lookonchain data, the address “theskybomber.eth” related to Bastion Trading transferred all of the 135.3 million USDT they received from the Tether treasury in the last 2 days to Binance. cryptocoin.com As we reported, USDT is issued by Tether and is the largest stablecoin in the world. It is pegged at a 1:1 ratio to the US dollar.
Tether minted 3B $USDT on #Tron and #Ethereum in the past 2 days.
We noticed that theskybomber.eth (related to @BastionTrading) received 135.3M $USDT from Tether Treasury in the past 2 days, then transferred all $USDT to #Binance.https://t.co/K8yhddu9yw pic.twitter.com/lAiAeq4wPz
— Lookonchain (@lookonchain) March 17, 2023
Popular altcoin MATIC posted to Coinbase
On March 17, according to the SpotOnChain platform, Republic Capital transferred 24.5 million MATIC (approximately $27.2 million) to Coinbase. At the time the company transferred its MATIC assets to Coinbase, the price of the coin was $1.11. Earlier last year, Republic Capital, one of the investors in Polygon’s $450 million private funding round, entered the vesting process at Polygon Ecosystem Growth, of which it is a contractual part. As part of this process, it received the assets on January 18, 2023. At that time, the coin was worth $0.97. So now they will be able to sell at a profit of $0.04 per coin.
#RepublicCapital just moved 24.5M $MATIC at $1.11 (~$27.2M) to #Coinbase 6hrs ago.
They received this from #Polygon Ecosystem Growth on Jan 18 at $0.97 as part of the vesting process.
Republic Capital is among investors in Polygon’s $450M private funding round early last year. pic.twitter.com/6ozBdow2M7
— Spot On Chain ✨ (@spotonchain) March 17, 2023
Altcoin whale mobilizes 2.66 million SNX
The giant whale address, which bought about 5.43 million SNX for $15 million from the Synthetix treasury from March 14 to March 16 and thought to belong to an organization, took action, according to data from Lookonchain on March 17. He transferred 2.66 million (approximately $7.5 million) of the assets he received from the Treasury to Binance shortly thereafter.
The institution spent 15M $USDC to buy 5,436,960 $SNX from #Synthetix Treasury between Mar 14 and Mar 16, the average buying price is $2.76.
Then transferred 2.66M $SNX (7.5M) to #Binance 5 hrs ago.
Maybe he/she already sold $SNX on #Binance.https://t.co/rHJJjwwRdw pic.twitter.com/WUEZSQDPeh
— Lookonchain (@lookonchain) March 17, 2023
Asset management company sells
On the other hand, according to on-chain data on March 17, crypto asset management company Arca sold some of its holdings. According to data from Arbiscan, which tracks movements on the Arbirtum network, the company sold 46,700 GMX on March 17. The average selling price for this coin was $74.3. The purchase price was $81. This represents a total loss of 31 million. In addition, the company sold 1,881 Dopex (DPX). The average selling price on DPX was $315. Given the purchase price of $392, the loss was close to $140,000.
Finally, the company sold 900,000 Radiant Capital (RDNT). The average selling price on RDNT was $0.34. Given that the purchase price is $0.28, the profit is seen as $50,000. According to its own statements, Radiant aims to be the first omnichain coin market where users can deposit any major asset on any main chain and borrow various assets supported on multiple chains.
