Whale Address Reawakens with a Multi-Million Transfer

02/27/2023 02:12 • Blockchain Briefs • 93 views

It is reported that, according to the monitoring data of Lookonchain, a whale address (beginning with “0x4271”) that has been dormant for nearly two years transferred 66 million ANKRs (about US $2.8 million) to Coin An more than an hour ago. It is reported that the ANKR of this address was received from Yuan An in July 2019 and September 2020, and the price was US $0.0065 at that time.

The address of whales that have been dormant for two years will transfer 66 million ANKRs to Coin An, about 2.8 million US dollars

Analysis based on this information:

Lookonchain, a monitoring system used to track cryptocurrency transactions, has reported a significant and surprising transfer of ANKR from a dormant whale address. The specific whale address, which had been inactive for almost two years, had transferred 66 million ANKRs to Coin An just over an hour ago. This transfer is worth around US $2.8 million at today’s market rates.

What is particularly interesting about this transfer is that the ANKR in this address had not been touched since it was acquired from a source called Yuan An – in July 2019 and September 2020. At that time, the price of ANKR was only US $0.0065 compared to today’s price of around US $0.042 per token. This whale address had remained dormant for nearly two years, leading many to wonder about its owner’s intentions or loss of interest in ANKR.

However, this sudden transfer of such a significant amount has reawakened the market’s curiosity about this whale address once again. What led to this transformation of activity, and why now? There are many possibilities that could be speculated on, including a sudden resurgence in interest in ANKR, the discovery of a new use case for the token, or the need for quick liquidity. The potential factors behind this transfer are endless.

The ANKR market, like most cryptocurrencies, tends to be volatile, and this sudden transfer has the potential to affect the coin’s price. The sudden influx of more than 66 million ANKR into the market could affect the demand and supply ratio, and thus the current price of ANKR.

In short, this transfer is significant because it shows that a seemingly inactive whale address can suddenly become active, affecting the market in unexpected ways. At the same time, it raises questions about what the future holds for ANKR and its potential uses. As the cryptocurrency market continues to evolve, it is likely that similar transactions will take place, leading to more surprises and speculation about what the future holds.

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