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Whale Deposits 4.5 Million FTT into Binance, Incurring $4.4 Million Loss

A whale address moves 4.5 million FTT tokens worth $3.5 million to Binance, following a prior withdrawal of $7.95 million in late 2024, marking a $4.4 million loss.

MOVE

Summary

A whale address has deposited 4.5 million FTT tokens, valued at $3.5 million, into Binance, resulting in a $4.4 million loss compared to a previous withdrawal of $7.95 million in late 2024. This move emphasizes the volatility and risks of large-scale crypto transactions.

Terms & Concepts
  • FTT: FTT is the native token of the FTX exchange, used for trading fee discounts and other benefits within the platform.
  • Whale Address: A term used to describe a cryptocurrency wallet that holds a large amount of a specific cryptocurrency, often capable of influencing market prices due to the size of its transactions.