Santiment says the recent shifting of 24.9T Shiba Inu (SHIB) went to a personal wallet from CryptoCom.
According to a recent on-chain data report from crypto analytics firm Santiment, over 24 trillion SHIB tokens have left a top crypto exchange into a personal wallet.
Santiment via a tweet, revealed that the SHIB tokens were transferred from an exchange wallet into a self-custody wallet in six different transfers.
The whale account has been accumulating Ethereum (ETH) since 1st March 2023, while also having up to 992 ETH before now.
In total, the address now holds 24.9 trillion Shib and 992 Ethereum.
🙀 $276M worth of #ShibaInu has been transferred from an exchange wallet to self custody wallet in 6 separate transfers today. This address has also been quickly accumulating #Ethereum since March 1st, possessing 992 $ETH alongside its now 24.94T $SHIB. https://t.co/7i0ua0pDIF pic.twitter.com/PfVUsXeHqc
— Santiment (@santimentfeed) March 20, 2023
Recall that yesterday Th Crypto Basic reported the movement of 24.9T Shiba Inu.
The massive transfer from Crypto.com is valued at $269,595,805 ($269.59M), making the wallet the fourth largest Shiba Inu holder. This has also led to a spike in Shiba Inu’s trading activity, and according to WhaleStats, SHIB trading volume is back in the top 10 among 2000 ETH whales in the last 24 hours.
Although this left some uncertainties in the SHIB community, Kris, Crypto.com’s CEO, says the transfer is an exchange’s usual operation to ensure continued safety and security of funds.
While the Shiba Inu Ecosystem continues to be on the news recently, it has gotten a shout-out from Forbes. The American business magazine, via an article, commended Shiba Inu for its debut of the Metaverse’s WAGMI Temple Hub at this year’s South by Southwest (SXSW) festival.
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