A major crypto investor has moved a significant amount of Fantom tokens to Binance, sparking interest in possible strategic market moves.
Movement of Fantom Tokens
On-chain data indicates that the crypto whale transferred 10 million Fantom (FTM) tokens worth $8.17 million to the Binance exchange. This transaction occurred after holding the tokens for an extended period.
Investment Background
This investor previously accumulated a total of 23.45 million FTM at a price of $0.618 approximately two years ago. The increase in value over time could mean a profit of about $2 million if the tokens are sold.
Future Plans and Market
There is anticipation that Fantom tokens may be rebranded as Sonic (S) tokens. However, the current market volatility, along with a recent 21% decrease in value over the last month, raises questions about the investor’s strategy. Despite the possibility of exchange to S, the current trade price stands 77% below its all-time high.
Movements by major whales in the market pique interest and speculation among investors. Only time will tell how the situation unfolds, particularly considering the potential rebranding of tokens.
