According to on-chain data, a whale has sent their entire bag, worth $11.80 million, to Coinbase. If the whale sells the asset, they would realize a profit of $5.7 million.
Since the October 2023 market rally, IMX has been one of the top performers. In two months, the token’s price has risen by approximately 400%.
IMX Whale Likely to Realize 93% Gains: Spotonchain
The whale wallet, 0x3f2d, first sent over 5.15 million IMX tokens to another fresh wallet — 0x48f3. Finally, 0x48f3 sent those tokens to the COINBASE
In most cases, investors deposit their funds to centralized exchanges to dump them into the open market. And when investors withdraw their assets from centralized exchanges, they intend to hold them longer.
The screenshot below shows that in the past 7 days, there has been a deposit surplus of 2.75 million IMX tokens. Moreover, in the last 24 hours, the tokens’ balance on centralized exchanges has risen by over 42,000.
Nonetheless, IMX has a significant demand zone between $2.26 to $2.32. The screenshot below shows that over 1290 addresses purchased 47.29 million IMX tokens in this region.
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