Developers Made Large Transactions in Two Major Altcoins: One Sold, the Other Bought!

Crypto market has seen significant transactions carried out by whales in recent hours.

According to the on-chain data tracked by AI Yi, a crypto asset analyst, the wallet belonging to the PUMP team has transferred a total of 20.15 billion PUMP tokens to various exchanges in the last two hours. The transaction details are as follows:

• Gate: It is estimated that 6.41 billion tokens, 2.5 billion of which are for Launchpad distribution, will be released.
• Bybit: 5 billion token
• Address believed to be Kraken: 7.5 billion tokens
• Address named 2XQbX…iNrPm: 1.25 billion tokens

Although the ownership of the last two addresses has not yet been determined, they are most likely thought to belong to exchanges.

According to on-chain data, the investment address belonging to the 1inch team deposited 2 million USDC today into centralized exchanges (CEX). Previously, the team had withdrawn 6.33 million 1INCH tokens from exchanges. Since July 6, they have spent 3.43 million USDC on-chain to purchase 13.23 million 1INCH, and transferred 7.97 million USDT to Binance, redirecting 32.41 million 1INCH tokens to withdrawal addresses. During this process, the price of 1INCH increased by 100%, rising from $0.18 to $0.36.

Since February, the fund that has spent a total of 13.64 million dollars has purchased 55.85 million 1INCH at an average of 0.244 dollars, and as of now, it has achieved a profit of 5.13 million dollars.