- PeckShieldAlert provided information about the latest movement of funds from Jump Trading.
- Jump Trading moved $9.54 million worth of MASK to Binance.
- The Binance wallet currently holds 1,179,092 MASK.
According to the latest on-chain data shared by PeckShieldAlert, Jump Trading has moved 2 million MASK to Binance. The value of the MASK moved at press time is $9.54 million.
Jump Trading Binance’s account received 1 million MASK from itself and the other 1 million MASK from 0x4169d. 0x4169d received the MASK from the Mask Network.
At press time, Jump Trading’s Binance Deposit account had $1,652,698.14 worth of tokens. The latest movement of MASK happened on February 2, 2023, at 04:00:35 UTC.
The price of MASK has definitely been affected by the movement of MASK. According to CoinMarketCap data, MASK is trading at $4.84, with a 15.78% rise in value over the last 24 hours. A closer look at the តម្លៃ MASK reveals that the spike in price is related to the movement of 2 million MASK. The market cap of MASK also rose by 15.54% and stands at $329,942,781.
Jump Trading is a US-based trading firm that was greatly involved with the Terra-LUNA event. The firm recently moved LIDO to Binance, which caused its price to plummet by 20%. The fleet of transfers also raised the question of why Jump Trading was dumping LIDO.
The motive of Jump Trading is unclear, as to why they moved 2 million MASK to Binance. It is just another prime example of how the movements of large players can affect the market and price of specific tokens. On-chain data quite often comes in handy so that investors and traders can keep an eye on these movements.
Source: https://coinedition.com/binance-receives-inflow-of-2-million-mask-from-jump-trading/