Estimated PORTAL Market Maker Transfers $5.29M in 4 Hours
CryptoNewsTerminal Staff04 Jun, 2024
Estimated PORTAL Market Maker Transfers $5.29M in 4 Hours
An address suspected of being a PORTAL market maker transferred ~5M PORTAL (~$5.29M) from their address to Binance, Kucoin, and Bybit combined over the last 4 hours. The address received 5M PORTAL before the token's launch and has been dormant for about the last 2 months. - Analyst "ai_9684xtpa" shared via X that the address "is suspected of being a PORTAL market maker." - The address received 5M PORTAL before the token's launch. - The address has been dormant for about the last 2 months. - The address transferred ~5M PORTAL (~$5.29M) to Binance, Kucoin, and Bybit combined over the last 4 hours. This news follows a recent report that PORTAL had seen a significant increase in trading volume on major exchanges. It is unclear what the purpose of the recent transfers is, but it is possible that the market maker is preparing for a large trade or is moving the funds to a different exchange.
