The Price Of HOOK Dropped 20% Following The Decision To Move 100 Million Tokens To Binance
After the project announced the transfer of its token lock to the Binance Custody custodial service, the HOOK token price fell by roughly 20%.
The price of HOOK has dropped following the decision to move 100 million tokens to Binance.
This Protocol announced in the afternoon of December 9 that it would transfer the project team’s share of 100 million HOOK to Binance Custody with the listed wallet address. The total and circulation supplies of HOOK will stay unchanged as a result of this operation.
According to the most recent update, the protocol has successfully transferred its 100 million tokens to Binance. The group stressed that the other token is still locked and adheres to the predetermined vesting schedule, which is locked for the first year and amortized after that in 6 months.
Furthermore, the project re-posted the project development roadmap, committing to transparency and hope that users will follow and share the Web3 objective in the future.
The aforementioned action will almost certainly create questions and suspicions in the community. Anticipating this, the project also claims that it is unrelated to any of HOOK’s recent price swings and advises consumers to conduct their own research (DYOR) before investing. However, the HOOK price is still volatile, plummeting roughly 20% after the announcement and trading around the $1.75 mark. (at the writing time).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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