Fear, uncertainty and doubt have been spreading like wildfire of late. Binance deciding to liquidate its FTX Token HODLings triggered FTT to drop by around 20% today. Parallelly, owing to another development that shaped up today, there are odds of another 3.36 million FTT tokens being let out in the market by the BitDAO community from their treasury. If that ends up happening, it could trigger another leg down for the token.
Read More: Will 3.36 million FTX Tokens be let out in the market in 24-hours?
In the wake of the said series of events, withdrawals from FTX started rising. As reported a day back, firms from the space already started withdrawing Ethereum and other assets from the platform.
Latest data from Nansen revealed that the total deposits of Ethereum and ERC-20 tokens over the past day to FTX stood at $540 million. Withdrawals, on the other hand, stood at a much elevated $1.2 billion.
Also Read: Firms are withdrawing Ethereum, Alts from FTX: Should investors panic?
Chalking out Shiba Inu transfers
Over the past day, whales have engaged in Shiba Inu transactions en masse. Trillions of SHIB have been moved from exchanges in the said period, mostly from FTX.
Data from Etherscan brought to light a couple of sizeable transactions carried out by an unidentified wallet. As illustrated below, 502.3 billion and 500 billion Shiba Inu tokens were moved in two separate transactions around eight hours back. Before that, another transaction involving 10 million tokens had taken place.
Also Read: Shiba Inu ranks #1 on Ethereum Whales’ Portfolio, Despite Market Drama
Other notable transactions included a 183.2 billion aggregate SHIB transfer from Coinbase to an anonymous wallet. Alongside, over 108.2 billion tokens were also moved from an unidentified wallet to another.
At press time on Tuesday, Shiba Inu was trading at $0.00001097, down by 8.9% on the daily.