Categories: Analysis

YGG Price Surges By 250% In 7 Days As Investors Continue To Dump

YGG-Price-Surges-By-250-Percent--In-7-Days-As-Investors-Continue-To-Dump

Key Points:

YGG price increased by 250% in 7 days with significant wallet transfers.
Wintermute Trading, Youbi Capital, and DWF Labs made notable deposits to Binance while investors were dumping YGG.
Sfermion and BITKRAFT Ventures also made large deposits to Binance through FalconX.

YGG price surged by almost 250% in 7 days, accompanied by significant wallet transfers. Notable deposits to Binance from Wintermute Trading, Youbi Capital, and DWF Labs while investors were dumping YGG.

Yield Guild Games (YGG), a DAO that invests in non-fungible tokens (NFTs) used in virtual worlds and blockchain-based games. Its mission is to create the biggest virtual world economy and optimize its community-owned assets for maximum utility while sharing its profits with token holders. Recently, YGG has been making waves in the market.

According to Lookonchain, the price of YGG has surged by almost 250% in the past seven days. This has been accompanied by significant activity in YGG’s wallet transfers. Wintermute Trading, for instance, deposited a total of 11.1M YGG ($6.7M) to exchanges in the past 4 days and currently holds 2.5M YGG ($1.5M).

Meanwhile, Youbi Capital deposited 1M YGG($613K) to Binance yesterday and currently holds 11.6M YGG($7.11M). On the other hand, investors have been dumping YGG.

Several investors, including Sfermion and BITKRAFT Ventures, have made large deposits to Binance through FalconX. Previously, DWF Labs received a total of 29.13M YGG ($16M) from YGG Treasury in the past year and transferred all of YGG to exchanges.

At the time of writing, YGG is trading at around $0.589, as shown by CoinMarketCap data.

Source: CoinMarketCap

Recently, DWF Labs deposited the last 3.65M YGG ($2.1M) to Binance. Additionally, Whale”0x639B” deposited 2M YGG($1.16M) to Binance and still has 2M YGG($1.16M) left.

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.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.