ZachXBT Says 23 Million RAVE Moved to Bitget Deposit Addresses as Token Fell
According to blockchain investigator ZachXBT, a multisig address (shared-control wallet) linked to RAVE’s initial allocation transferred about $23 million in tokens before the price dropped from $1 to $0.6.
Fact Check
The strongest validated evidence is the BlockBeats flash, which directly attributes the claim to ZachXBT and includes the specific quantities, destination addresses, and price move: about 23 million RAVE sent to two Bitget deposit addresses, followed by a fall from $1 to $0.6. The observed X post by WuBlockchain independently matches the key facts, reporting approximately 23 million RAVE moved/sold and a sharp price drop, while the observed The Crypto Basic post also matches the transfer-to-Bitget portion. Confidence is only medium because the original ZachXBT post itself could not be fetched in-run due tool limits, and some corroboration came from secondary reporting rather than the primary social post.
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Summary
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Terms & Concepts
- Multisig address: A crypto wallet that requires multiple approvals to authorize transactions, reducing single-party control.
- Deposit address: A wallet address assigned by an exchange for users to send tokens into the platform for trading or custody.
- Initial allocation: The original distribution of a token supply, often assigned to teams, investors, treasury wallets, or ecosystem funds.