- Teneo, the liquidator for Three Arrows Capital, transferred $2.63 million price of STRK to Binance, retaining a major quantity of belongings price $157 million.
- Teneo has emerged as a significant participant within the Starknet (STRK) token ecosystem, holding the second-largest non-team/CEX pockets.
- STRK Worth Rising, Buying and selling Quantity Falling: What's Subsequent for Starknet?
Teneo, the liquidator for hedge fund Three Arrows Capital, reportedly moved 2.18 million STRK tokens (price roughly $2.63 million) to Binance over the previous three days. In accordance with a submit on blockchain analytics platform Spot On Chain, Teneo now holds 130 million STRK, estimated to be price $157 million.
Chinese language cryptocurrency journalist Collin Wu elaborated additional on Teneo's strategic transfer with its STRK tokens, noting that Teneo, which holds a good portion of 3AC's STRK tokens, has emerged because the second-largest STRK holding pockets exterior of Workforce/CEX.
In accordance with the newest information, Starknet Token (STRK) is buying and selling at $1.23, displaying a slight lower of two.27% over the previous 24 hours. Nonetheless, the token has surged by 6.10% and three.88% over the previous week and month, respectively, indicating constructive momentum.
The token at the moment sits at 68th place on CoinMarketCap with a market cap of $1,408,958,143. 24 hour buying and selling quantity is at the moment at $157,940,550, a major drop of roughly 50%, suggesting much less exercise inside the ecosystem.
In accordance with a earlier report revealed in February 2024, an handle recognized as “Teneo: 3AC Liquidation” holds over $602 million in crypto belongings. The report revealed that the pockets holds a large assortment of 75 million WLD tokens, valued at $567 million, making up 94% of the full belongings.
Different belongings within the Teneo pockets included 8.437 million DYDX price roughly $26.91 million, 160,000 AXS price greater than $1.3 million, and 5.75 million USDC. The report additionally famous that 3AC Collectors is without doubt one of the largest holders of WorldCoin tokens (WLD).
The switch of STRK tokens to Binance raises curiosity about Teneo's intentions: it could possibly be a step to liquidate the tokens to repay collectors, or it could possibly be partly a method to maximise the worth of its remaining belongings.
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