GALA Team Transfers $1.41M to Wintermute, Market Making Expected

IconCryptoNewsTerminal Staff09 Jul, 2024

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GALA Team Transfers $1.41M to Wintermute, Market Making Expected

The on-chain analyst ai_9684xtpa took to Twitter to report that the GALA team transferred 65 million GALA, approximately $1.41 million, to the crypto market maker Wintermute. This was 10 hours ago, and the transfer has raised speculation that the team predicts a price drop and is selling its holdings. The reported address has transferred 3.14 billion GALA, valued at roughly $85.51 million, over the past nine months. This substantial transfer suggests that the assets may be used for market making or selling.

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