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Santiment tweeted yesterday evening that a known whale address recently added 100M AGIX to their holdings, which is estimated to be just over $50 million at current prices. According to the tweet, this is the largest transaction on the SingularityNET network since Jan 2022.
đźđł A known whale exchange address has added 100M $AGIX worth just over $50M. This is the largest move on the #SingularityNET network since Jan, 2022. Check out our insight that discusses one of the top rising assets of 2023, and what this move can mean. https://t.co/VjTeuFpfor pic.twitter.com/oj660O6eDX
â Santiment (@santimentfeed) March 22, 2023
Santiment also included their latest Insights report for AGIX in the tweet, which started off by highlighting AGIXâs incredible +1,109% gain between the third of January and the sixth of February this year.
According to the report, there has been some âchoppyâ price action for AGIX ever since its significant price increase over the five-week stretch.
The report added that the recent AGIX whale transaction, which saw about a quarter of the available AGIX being sent from one of the largest known exchange addresses to another, is tough to make sense of.
The address which received the large amount of AGIX holds $9.92 billion in combined altcoins, with its largest portion in BUSD, stated the report. Another thing to note is that this address has been aggressively increasing its stake in AGIX throughout the past year.
Given that both addresses involved in the transaction are linked to an exchange platform, itâs fair to believe that this is nothing more than a simple asset reshuffling by the platform.
However, Santimentâs Insights suggested that there may be more going on here than a simple reshuffle of the platformâs assets given that the large transaction was made with one of the largest gaining crypto assets in 2023.
CoinMarketCap shows that the price of AGIX has risen 1.25% over the last 24 hours. As a result, the price of AGIX stands at $0.495 at press time.
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