- Lookonchain revealed in an X post today that FTX sent 75 million TRX to Binance over the past few hours.
- According to the post, FTX has sent a total of 161 million TRX to Binance throughout the previous three days.
- At press time, TRX was up 1.50% despite the looming threat of a large selloff.
The price of Tron (TRX) could undergo a steep correction soon. In an X post today, Lookonchain revealed that FTX sent 75 million TRX tokens to Binance via the Tron network over the past few hours. This transfer is just the latest in a series performed by FTX. According to the post, FTX has sent a total of 161 million TRX over the past three days.
FTX transferred 75M $TRX($7.83M) to #Binance on #Tron Network 8 hours ago, and a total of 161M $TRX($16.8M) has been transferred to #Binance in the past 3 days.The wallet currently holds 279.8M $TRX($29M).https://t.co/lf5PMNmK8W pic.twitter.com/E3VDbzVKFa
— Lookonchain (@lookonchain) November 16, 2023
These large transfers may lead to a mass selloff of TRX as the collapsed exchange attempts to liquidate its cryptocurrency holdings to pay back creditors. It seems that this potential TRX selloff has not yet started. At press t…
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