Key Points:
According to Lookonchain, the whale who previously burned 2,500 ETH transferred 36,188 GMX ($1.78 million) and 311,003 GNX ($1.52 million) to a dead address. As of now, the whale has managed to transfer nearly $8 million to the dead address.
The individual had transferred 2,500 ETH (valued at $4.58 million) to a dead address on July 26th and was found to possess 34,287 GMX ($1.84 million) and 311,003 GNS ($1.43 million). On July 29th, the whale spent 5,330 DAI to purchase GMX and GNS tokens, and also transferred 34.9 GMX ($1,989) and 600 GNX ($2,733) to the dead address.
According to OxScope, several CT accounts suggest that this transfer was due to the address owner’s girlfriend cheating on him. However, there is no evidence to support the cheating scandal.
This news has caused a stir in the crypto community, leaving many to speculate on the motivations behind these transfers. However, the true reason behind these transfers remains unknown.
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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