- Multi-signature wallets transfer thousands and thousands of COOKIE tokens and trigger market modifications.
- The worth of COOKIE token fell by 27.5% after the large sale, exhibiting the impression in the marketplace.
- COOKIE's market capitalization is $157.72 million, or 30.12% of the overall circulating provide.
The multi-signature pockets related to the COOKIE token mission made a giant transfer after Binance introduced it will record the token. Simply eight hours after Binance's announcement, roughly 20 million COOKIE tokens (valued at roughly $12.55 million) have been despatched to exchanges, triggering a sale of COOKIE.
The pockets nonetheless has roughly the identical quantity of COOKIEs (price about $11.33 million). These actions have resulted in appreciable volatility within the COOKIE market.
Monitoring cookie switch
The switch of COOKIEs started with a “Cookie: Deployer” tackle, and 75 million COOKIEs (valued at roughly $8.92 million) have been moved to a probable multisig pockets labeled “Cookie: Multisign (probably) 0x458.”
From there, one other 20 million tokens (price about $1.3 million) have been despatched to the tackle 0xf467db17…967. These tokens have been despatched to Binance, the place 20 million COOKIEs (valued at $12.75 million) have been deposited.
The ultimate vacation spot of those tokens was “Binance 6” the place one other 20 million COOKIEs have been despatched.
COOKIE token value takes successful
So what occurred to the worth of COOKIE? Effectively, 20,001,000 COOKIEs have been offered for $12,375,000, with a mean value per token of $0.619. The worth of the token soared earlier than the sale, however rapidly fell after the sale.
Please additionally learn: Binance Futures expands market with new token contract
This value drop coincided with the sale, indicating that this massive transaction doubtless influenced market sentiment and the token value. COOKIE's worth has fallen by 27.5% in 24 hours, dropping to $0.531 on the time of writing.
After the worth spike, buying and selling quantity additionally declined. This implies that the market could also be getting into a consolidation section. Presently, COOKIE has a market capitalization of $171.09 million, with 321,637,101 tokens in circulation. This represents 30.12% of the overall provide and is capped at 1 billion tokens.
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