- Three Arrows Capital liquidator Teneo transfers $2.63 million in STRK to Binance, retaining a major $157 million.
- Teneo is rising as a significant participant within the Starknet (STRK) token ecosystem and holds the second largest non-team/CEX pockets.
- STRK Worth Improve, Buying and selling Quantity Lower: What's Subsequent for Starknet?
Hedge Fund Three Arrows Capital liquidator Teneo has reportedly transferred 2.18 million STRK tokens value roughly $2.63 million to Binance over the previous three days. Teneo at the moment holds 130 million STRK, which is estimated to be value $157 million, in keeping with an X publish by blockchain analytics platform Spot On Chain.
Chinese language crypto reporter Colin Wu provided one other perception into Teneo's strategic maneuver with STRK tokens. Notably, Teneo, holding a considerable portion of STRK 3AC tokens, has emerged because the second largest non-team/CEX STRK holder pockets.
In keeping with the newest knowledge, Starknet Token (STRK) is buying and selling at $1.23, reflecting a slight lower of two.27% within the final 24 hours. Nevertheless, the token has proven optimistic momentum over the previous week and month, by 6.10% and three.88% respectively.
The token at the moment holds the 68th place on CoinMarketCap and boasts a market capitalization of $1,408,958,143. A major drop of just about 50% in its 24-hour buying and selling quantity, at the moment at $157,940,550, signifies lowered exercise inside the ecosystem.
In keeping with a earlier report issued in February 2024, an deal with labeled “Teneo: 3AC Liquidation” comprises greater than $602 million in crypto property. The report revealed that the pockets was dominated by an enormous assortment of 75 million WLD tokens value $567 million, representing 94% of whole property.
Different property in Teneo's pockets included 8.437 million DYDX value roughly $26.91 million, 160,000 AXS value greater than $1.3 million, and 5.75 million USDC. The report additionally states that 3AC lenders are among the many largest holders of Worldcoin (WLD) tokens.
The transfer of STRK tokens to Binance raises curiosity about Tene's intentions. It could possibly be a transfer to liquidate tokens to repay collectors, or it might partly be a method to maximise the worth of remaining property.
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