Animoca Brands, known for its Web3 investments, recently moved a significant amount of PIXEL tokens and Ethereum (ETH) to Binance. This move comes in the wake of the company's latest asset surge.
Selling PIXEL Tokens
Animoca Brands, a leading investor in several Pixel funding rounds, recently sold 20 million PIXEL tokens valued at $2.44 million. This occurred after acquiring the assets at $0.13 and selling them at $0.14. Earlier this month, the same address acquired $1.3 million worth of PIXEL, then quickly divested them.
Anticipated PIXEL Token Unlocks
Currently, only 22% of PIXEL tokens are in circulation, but the unlock speed is expected to accelerate in 2025. PIXEL peaked at $0.96 in March 2024 during the market's peak but has since declined to its current levels. Despite high on-chain activity, the token's real utility remains subdued.
Animoca Brands Sells Ethereum
In addition, Animoca Brands recently moved 5,500 ETH to Binance, presumably to take profits. The recent ETH sale was part of active trading amid the market's fast recovery.
The recent transactions by Animoca Brands clearly demonstrate their asset management strategy, including trading PIXEL tokens and Ethereum. These actions may be aimed at reviving interest in the project and increasing token visibility.
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