noteworthy $ghost Movements in the cryptocurrency market are raising questions among investors.
Yesterday morning, cryptocurrency investment firm Multicoin Capital transferred approximately $150,000, according to on-chain data. $ghost Exchange the tokens (worth approximately $14.91 million) via Galaxy Digital and BitGo. The price after these transfers is $ghost It fell about 7% from $99 to $92.
Several notable new trades occurred after the price dropped to $92. According to the data, Galaxy Digital withdrew around $98,000 $ghost It acquired tokens (approximately $9.08 million worth) from various exchanges and sent them back to an address linked to Multicoin Capital. After these transactions, $ghost Prices recovered slightly, rising to the $93 range.
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There are currently two different scenarios being discussed in the market. The first possibility is that Multicoin Capital implemented a short-term trading strategy of selling at high levels and buying back at low prices. Another possibility is that borrowed by institutional platforms like Galaxy Digital. $ghost They acquired it from Multicoin, sold it on the market, bought it back at a lower price, and then returned it.
*This is not investment advice.
