Over the last half hour, a major crypto whale or institutional wallet has withdrawn 703 million FORM tokens (approximately $19.82 million) from the Binance exchange to an on-chain address.
The token in question is the native token of Four, formerly known as BNX and now operating as a memecoin startup. Known for its previous manipulative moves, this new move by BNX could herald a new wave of manipulation in the market.
On the other hand, another development that attracted attention during the same period was a whale that was constantly losing in high leverage positions. Despite experiencing partial liquidation in the last 10 transactions, this investor opened short positions again with a leverage of 40x for BTC and 25x for ETH. The investor, who has lost a total of $16 million so far, has a loss of $14 million in this transaction.
Additionally, a newly created wallet opened a 10x leveraged HYPE long position by depositing $4.16 million worth of USDC to decentralized cryptocurrency exchange HyperLiquid.
However, well-known whale James Fickel deposited 80,000 ETH worth $204.05 million to the Coinbase Prime platform. Fickel currently has 7,278.87 ETH in his wallet, which is around $18.56 million.
Finally, a solo Bitcoin miner managed to mine a block of 3.17 BTC, which is worth around $349,000 at current prices.
*This is not investment advice.
