Today, a significant transfer of altcoins occurred on Binance, resulting in notable price changes.
Transfer of Altcoins to Binance
According to on-chain data, a crypto whale transferred 4 million Four (FORM) tokens worth $8.36 million to the Binance deposit address. This transfer was the first step in a process that ended with the complete liquidation of the whale's remaining tokens.
Price Dynamics of FORM
Following the transfer of the tokens to Binance, FORM's price dropped by approximately 4%, falling from $2.09 to $2. As of writing, the price was $1.88, which is a 10% decrease compared to the previous 24 hours.
Outcome of Whale Operations
The crypto whale also purchased about 9 million FORM tokens for approximately $18.5 million from the Binance exchange in March, after which their total balance was $10.77 million. As a result of the recent transactions, the whale has completely sold off all their tokens.
These operations of the large crypto whale highlight market activity in altcoins and the significant influence of such transactions on their prices.
