24 Million Dollar Altcoin Whale Transfer from Inactive Wallet to Exchange

In a move, several crypto whales have transferred a significant amount of altcoins to a cryptocurrency exchange. This sudden action has caught the attention of market observers, sparking speculation about the intentions behind this mass transfer. It remains to be seen whether this influx of altcoins will have an impact on the exchange's market dynamics and the overall sentiment towards these particular cryptocurrencies. Observers are closely monitoring the situation, eager to see how this development unfolds and what it could mean for the wider crypto market.

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In a move, many cryptocurrency whales have transferred a large amount of altcoin to a centralized cryptocurrency exchange.

24 inactive wallets sent 428,145 OKB, equivalent to $24.31 million, to the OKX cryptocurrency exchange. The average token deposit price of the whales is $56.78 per OKB.

These wallets had withdrawn a total of 443,718 OKB from OKX four years ago at an average price of $6.36, equivalent to $2.82 million.

This happened right after the large-scale Buyback and Burn event organized by OKEX on March 16, 2024.

In this event, 11.48 million OKB worth $748 million were bought back and burned. Notably, 9.68 million OKB ($631 million) of these tokens came from 539 wallets that had been inactive for 4 years.

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