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Popular cryptocurrency platform Lookonchain said in its post that Spartan Group deposited 500 thousand DYDX units worth $1.04 million to the Binance exchange.
Accordingly, Lookonchain stated that Spartan Group withdrew a total of 1.24 million DYDX (worth $2.25 million) from Binance between January 13 and June 13 at an average price of $2.04, and said that the company's DYDX profit was $54,500.
“Spartan Group deposited 500,000 DYDX ($1.04 million) 10 minutes ago.
Spartan Group withdrew a total of 1.24 million DYDX (valued at $2.25 million) from Binnace between January 13 and June 13 at an average price of $2.04.
Spartan Group currently holds 737,623 DYDX (valued at $1.53 million) and its profits are $54.5 thousand.”
Spartan Group deposited 500,000 $DYDX($1.04M) 10 mins ago.
Spartan Group withdrew a total of 1.24M $DYDX ($2.25M) from #Binance from Jan 13 and Jun 13 at an average price of $2.04.
Spartan Group currently holds 737,623 $DYDX($1.53M), and the profit is $54.5K. pic.twitter.com/v2ygMr7HPP
— Lookonchain (@lookonchain) October 2, 2023
DYDX, which is listed on Binance, has increased by 4.2% in the last 24 hours and reached up to $ 2.11.
DYDX, which experienced a 2% decrease from the level of $ 2.11, is traded at $ 2.06 at the time of writing.
While it is considered that Spartan Group most likely sent DYDX to Binance for sale, it is considered that this sale will not have a major impact on the price of DYDX, considering the daily volume of DYDX.
Spartan Group is a leading blockchain investment and advisory firm based in Singapore and Hong Kong.
*This is not investment advice.