Amber Group just deposited 2.6M $ID ~ $1.35M onto Binance 30 minutes ago.
Is this a profit-taking action by the Fund, as the price of ID has increased by 20% in the past two days?
Not necessarily, as Amber could also be cutting their losses. The amount they had withdrawn 4 months ago was 4M ID ~ $4.76M, and the price of ID has decreased by 56% since then.
If the recently deposited amount is now sold, Amber would record a loss of $1.7M (-56%).
