CandleFocus Binance Labs May Have Sold These Two Tokens After Altcoin Market Rise
2024-12-07
Author: Content Editor
According to Onchain data, Binance Labs, the investment arm of Binance, has transferred a significant number of GMT and AXS tokens to Binance, indicating that they may have sold some of their holdings in these altcoins. Binance Labs received a total of 75 million GMT and 11.8 million AXS tokens as compensation for their investments. The value of these tokens at the time of writing is approximately $15 million and $100 million, respectively. However, it is unclear why Binance Labs did not sell the tokens at their peak prices. The article suggests that token lockup agreements with the projects may be the reason behind this.
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