Earlier today, an address linked to Wintermute received 2 million API3 tokens, valued at approximately $3.16 million, from the API3 staking address.
This transaction has raised eyebrows in the crypto community, as past activity suggests a potential sell-off may be imminent.
Historical transaction records show a consistent pattern: whenever this specific wallet receives API3 tokens, the funds are subsequently sent to the Kraken exchange, leading many to believe a sale may follow. Over the last six months, this address has received and transferred around $4.42 million worth of API3 tokens to the exchange, further fueling speculation of a sell strategy.
Wintermute 关联地址于 4 小时前收到 API3 Staking 地址转移的 200 万枚 API3，价值 316 万美金
根据以往交易记录，每次该地址收到 $API3 后都会充值进 #Kraken，疑似卖出🤔 过去六个月已累计收到并向交易所转移价值 442 万美金的代币
钱包地址 https://t.co/2EqCqMwcv0 pic.twitter.com/aGOpbuGOzA
— Ai 姨 (@ai_9684xtpa) September 19, 2024
API3’s price movement has been relatively positive over the past week, with the token gaining 12% in value. However, today saw a slight 2% dip, which has left some investors wary of whether further declines could be on the horizon, particularly if more tokens flood the market.
The market is now closely watching this wallet’s next moves, as any large sell-off could potentially impact API3’s price in the short term. While speculation remains high, no confirmed sales have yet occurred following today’s transfer, leaving many to wonder whether this transaction will follow the pattern seen in previous months.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.