According to Onchain knowledge, Binance Labs, the funding arm of cryptocurrency exchange Binance, might have bought a number of the two altcoins during which it’s an investor.
According to the info, Binance Labs transferred 30 million GMT (GMT) tokens from its funding wallets to Binance two days in the past. The greenback equal of this quantity is measured at $7.29 million.
Today, the corporate moved 400,000 Axie Infinity (AXS) tokens to Binance, equal to a complete of $3.72 million.
Binance Labs, one of many first venture traders of GMT, obtained a complete of 75 million GMT as compensation for the funding. This corresponds to roughly $15 million at present costs.
The firm was additionally an early investor in Axie Infinity, receiving 11.8 million AXS tokens in return for its funding, presently price round $100 million.
Although there was a current rise within the altcoin market, it can’t be mentioned that Binance Labs has bought its tokens on the peak worth. AXS climbed to $ 165 for some time, and on the time of writing this text, it’s traded at $ 9.44.
The GMT worth had climbed to a peak of $4.11, and on the time of writing this text, it’s hovering at $0.24.
The cause for the failure to promote on the peak worth could also be a token lockup settlement the initiatives have made with Binance Labs, however the particulars of the agreements are unknown.
*This just isn’t funding recommendation.
