The recent listing of Cookie DAO (COOKIE) on Binance has garnered significant attention within the crypto community after onchain data revealed major token transactions.
Background on COOKIE
Cookie DAO, a new entrant in the cryptocurrency realm, was listed on Binance yesterday, drawing considerable attention from investors and analysts.
Post-listing Movements
Onchain data indicated that the multisig wallet belonging to Cookie DAO's developers transferred 20 million tokens worth $12.55 million to Binance right after the listing announcement. This wallet earlier received 75 million COOKIE from the original distribution wallet on June 13, 2024, and still holds tokens worth $11.33 million.
Possible Reasons for Transfer
The purpose of transferring the tokens to Binance remains unclear, but there are speculations about a potential sale. Additionally, it might be the listing fee required by Binance or an agreement involving locking tokens for a certain period.
COOKIE has lost 10% of its value in the last 24 hours and is trading at $0.509. These movements and their reasons remain a key focus for analysts and investors.
