Recent movements of WLFI tokens associated with Justin Sun raise questions about potential sales and market stability.
Movement of WLFI Tokens to HTX
Justin Sun has begun moving his allocated WLFI tokens, transferring $1 million to HTX exchange. HTX, acquired by him in 2022, could become a central hub for WLFI activities. Sun transferred a partial amount of WLFI to the exchange, retaining over 600 million unlocked tokens.
Market Situation for WLFI
WLFI token stabilized around $0.23 after the initial shock from whale selling. Major holders are retaining some unlocked tokens, while the remaining balance has been locked on a long-term schedule. Recently, World Liberty Fi announced a burn of 47 million tokens to boost market price.
Analysis of WLFI Activity
WLFI has accrued $9.3 million on its most active decentralized pair despite its fully diluted value exceeding $22.9 billion. Even top whales have taken relatively small profits. The WLFI token initially saw peak activity on Uniswap but experienced a slowdown in activity in subsequent days.
The movement of WLFI tokens and Justin Sun's actions raise questions about potential sales, while the market adapts to new conditions.
