Key Points:
- STORJ whale wallets make significant withdrawals, totaling 34.9M tokens.
- Continuous activity hints at strategic moves rather than new purchases.
Three whale wallets withdrew 34.9M $STORJ ($14.44M) from exchanges. Ongoing activity suggests strategic moves, not new purchases.
Recently, the blockchain analytics firm Lookonchain observed some noteworthy activity involving $STORJ, a digital asset associated with decentralized cloud storage. Here, we delve into the data to shed light on what these whale wallet withdrawals may signify.
According to Lookonchain’s findings, three fresh whale wallets have withdrawn a total of 34.9 million $STORJ tokens from various exchanges. The wallets in question are identified as 0x3313, 0x79bc, and 0x97c1, each making withdrawals of varying amounts.
The largest of these transactions, involving wallet 0x3313, saw 25.57 million $STORJ tokens (equivalent to approximately $10.58 million) being withdrawn from exchanges. Meanwhile, 0x79bc and 0x97c1 withdrew 5.35 million ($2.21 million) and 3.99 million ($1.65 million) $STORJ tokens, respectively.
The most recent transaction was seen in one of these whale wallets. Just one hour prior to the data collection, a withdrawal of 4,840,930 $STORJ tokens (valued at around $2.01 million) from Binance was observed.
Additionally, approximately four hours earlier, another wallet made a withdrawal of 1,841,203 $STORJ tokens (equivalent to roughly $769,642) from OKX. Currently, this wallet holds a substantial 25,572,742 $STORJ tokens, valued at approximately $10.7 million.
As of now, the $STORJ price has doubled, and the current withdrawals by the Whales possibly indicate they are not buying at this price. It’s possible the Whale made purchases earlier and is now withdrawing to the wallet.
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.
