Massive Whale Dumped Binance-Listed Altcoin: Price Plunges

According to crypto onchain data, a large crypto whale transferred a large amount of altcoins to the Binance exchange today.

The whale wallet first transferred 4 million Four (FORM) tokens worth $8.36 million to the exchange deposit address. Following this transfer, there was a decrease of approximately 4% in the price of FORM, with the altcoin dropping from $2.09 to $2.

This crypto whale purchased approximately 9 million FORM tokens worth $18.5 million from crypto exchange Binance for an average price of $1.97 during a one-week period in March. Following this move, the whale wallet’s total FORM balance dropped to $10.77 million, or 5.3 million tokens.

At the last minute, this big whale transferred all of his remaining tokens to Binance, leaving the whale with no FORM tokens left in his crypto wallet after his purchase in March.

These sales of the wallet also had an impact on the price. FORM price is trading at $1.88 at the time of writing and has lost 10% in the last 24 hours.

24-hour CoinMarketCap chart showing the price decline of FORM.

*This is not investment advice.

Original Article