Animoca Brands, the developer behind The Sandbox, has recently withdrawn $20 million worth of $SAND tokens from Binance, amounting to approximately $4.95 million.
This transaction occurred in two separate batches, with the first withdrawal taking place around 17 hours ago.
Subsequently, the tokens were transferred to a new address, 0x3Ac…a9192, five hours later. This address now holds a total of 25 million $SAND tokens, valued at about $6.16 million. However, it’s important to note that $SAND has experienced a 14% decline in value over the past week.
The Sandbox 开发商 Animoca brands 从 #Binance 提出 2000 万枚 $SAND ，价值 495 万美金
Animoca 关联地址 17 小时前分两笔从交易所提出代币后，五小时前已转移至地址 0x3Ac…a9192，该地址目前持有 2500 万枚 SAND，价值 616 万美金；SAND 近七天已下跌 14%📉
钱包地址 https://t.co/6f0ThM9kuh pic.twitter.com/TBwy7OvCND
— Ai 姨 (@ai_9684xtpa) October 26, 2024
10 Million $SAND Withdrawn
In a related development, Amber Group made headlines two days ago by withdrawing 10 million $SAND, roughly valued at $2.62 million, from their multi-signature wallet. This amount was quickly transferred to Binance, raising eyebrows in the crypto community. Interestingly, despite this significant withdrawal, around 9 million $SAND, valued at approximately $2.41 million, still remains in the multi-sig wallet.
Just 10 hours ago, #Amber_Group made a bold move, withdrawing 10M $SAND (worth around $2.62M) from their multi-sig wallet and swiftly transferring the entire amount to #Binance.
And now, in a surprising twist, 9M $SAND (approximately $2.41M) still remains in the same multi-sig… pic.twitter.com/jgbhUL0ukX
— ArbitrageScanner (@ArbitrageScan) October 24, 2024
This series of transactions has sparked speculation among traders and analysts regarding the future movements of $SAND. With the current volatility in the market, many are left wondering what strategy Animoca Brands and Amber Group will pursue next. As they navigate these market shifts, all eyes will be on their next moves, particularly as $SAND continues to face downward pressure. The evolving situation highlights the dynamic nature of the cryptocurrency market and the strategic decisions being made by major players.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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