In a notable move, the multisignature wallet 0x1f9, associated with SingularityNET, transferred 4 million AGIX tokens, worth $3.63 million, to Binance within the past 24 hours.
These tokens were funneled through multiple intermediary wallets before reaching the exchange.
Interestingly, this multisignature wallet had received these AGIX tokens from SingularityNET’s Treasury three months ago. Prior to this, the wallet’s last significant outward transfer occurred six months ago.Â
This recent activity comes just a week before a significant event in the AI token space: the merger of major AI tokens, including AGIX, FET, and OCEAN, into ASI on June 13.
13hrs ago, a multisign linked to @SingularityNET deposited 4M $AGIX ($3.63M) to #Binance.
The multisign had been inactive with $AGIX for 6 months;
And now returned to unload just 1 week before major #AI tokens $AGIX, $FET, $OCEAN are merged into $ASI on Jun 13. Bearish? 🤔… pic.twitter.com/6zICDeSiyd
— Spot On Chain (@spotonchain) June 6, 2024
The Most Anticipated Merger Comes In Time With These Suspicious Transfers
The timing of the transfer has raised eyebrows in the crypto community, as it precedes the anticipated merger. AGIX has experienced a 3% decline today, contributing to a 13% loss over the past 30 days.
This move by the multisign wallet suggests a strategic unloading of AGIX tokens in the lead-up to the merger. The implications of this transfer are being closely watched, as it may influence market sentiment and trading activity surrounding AGIX and the other AI tokens involved in the merger.
As the June 13 merger date approaches, the market will be keeping a close eye on further developments and the potential impacts on the value and distribution of these AI tokens. SingularityNET’s actions and the subsequent market responses will likely provide valuable insights into the evolving dynamics of the AI token landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.
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