Whale Alert on Binance and Coinbase-Listed Altcoin: It May Have Sold Huge Amount

According to cryptocurrency onchain data, a crypto whale transferred a large amount of altcoins to Binance.

Altcoin Whale with Massive Token Supply May Have Sold

A wallet suspected to be a whale or institutional investor moved $7.18 million worth of Bounce Tokens (AUCTION) to Binance minutes ago. The same wallet has continued to move AUCTION tokens to Binance in the past. In total, the cryptocurrency wallet moved 2.2 million AUCTION tokens to the exchange, accounting for 26% of the total token supply prior to the transfers.

Chart showing today's drop in AUCTION price.

The whale’s movement also showed itself on the token’s price chart. According to CoinMarketCap data, the AUCTION price has dropped by more than 10% during the day.

AUCTION, which is not a very new altcoin, is trading at a level 54% lower than its all-time high price record set 4 years ago at the time of writing. The token’s trading volume has similarly decreased by 37% on a daily basis.

The altcoin is also traded on Coinbase.

*This is not investment advice.