- Santiment tweeted that a known whale transaction recently made a $50 million AGIX transaction.
- The large transaction took place between 2 exchange addresses.
- Santiment’s latest report suggests that this transaction may be more than an asset reshuffle by the platform.
Santiment tweeted yesterday evening that a known whale address recently added 100M AGIX to their holdings, which is estimated to be just over $50 million at current prices. According to the tweet, this is the largest transaction on the SingularityNET network since Jan 2022.
Santiment also included their latest Insights report for AGIX in the tweet, which started off by highlighting AGIX’s incredible +1,109% gain between the third of January and the sixth of February this year.
According to the report, there has been some “choppy” price action for AGIX ever since its significant price increase over the five-week stretch.
The report added that the recent AGIX whale transaction, which saw about a quarter of the available AGIX being sent from one of the largest known exchange addresses to another, is tough to make sense of.
The address which received the large amount of AGIX holds $9.92 billion in combined altcoins, with its largest portion in BUSD, stated the report. Another thing to note is that this address has been aggressively increasing its stake in AGIX throughout the past year.
Given that both addresses involved in the transaction are linked to an exchange platform, it’s fair to believe that this is nothing more than a simple asset reshuffling by the platform.
However, Santiment’s Insights suggested that there may be more going on here than a simple reshuffle of the platform’s assets given that the large transaction was made with one of the largest gaining crypto assets in 2023.
CoinMarketCap shows that the price of AGIX has risen 1.25% over the last 24 hours. As a result, the price of AGIX stands at $0.495 at press time.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
