Binance Labs May Sell 4 Altcoins: Transfer of 2.8 Million Dollars Caused a Decrease!

Binance Labs, the investment arm of Binance, is preparing for a sale specifically for 4 altcoins.

According to data provided by on-chain analyst @EmberCN, Binance Labs, the investment arm of Binance, transferred four different altcoins worth approximately $2.79 million to the Gate.io exchange today.

All of the 4 projects in question were projects that Binance Labs invested in during the previous period. It was reported that this transfer was made within the scope of preparation for the sale.

The transferred tokens included 47.61 million Unagi Tokens (UNA) worth approximately $1.27 million, 25 million pSTAKE Finance (PSTAKE) worth approximately $1.24 million, 2.85 million Symbiosis (SIS) worth approximately $270 thousand, and 2 million HIPPOP (HIP) worth approximately $7,330.

According to CoinGecko data, UNA lost 5%, SIS lost 6%, and HIP lost 8% after the exchange transfer.

All four of these projects were among the projects supported by Binance Labs, and the tokens were obtained by unlocking them in line with the investments. However, it was stated that these tokens were not listed on the Binance exchange.

This high amount of token transfer made by Binance Labs to the Gate.io exchange is closely followed by crypto investors and is thought to create significant price movements in the market regarding the projects in question.