The post Binance Labs Transfers 400,000 AXS To Binance, Holds $9.43M Worth Of Tokens appeared on BitcoinEthereumNews.com.

Binance Labs continues its activity in the cryptocurrency market, recently transferring 400,000 AXS tokens—valued at $3.72 million—to Binance just an hour ago. This follows a significant transfer of 30 million GMT to the exchange two days earlier. As a key investor in Axie Infinity (AXS), Binance Labs has accumulated a total of 11.8 million AXS tokens through vesting unlocks. Over the past four years, 10.8 million AXS have been moved to Binance at an average price of $10.13 per token, amounting to a total value of $109 million. Despite these transfers, Binance Labs retains 1 million AXS, currently worth approximately $9.43 million. Binance Labs 在前天将 3000 万枚 GMT 转移进币安后，1 小时前又向币安转移了 40 万枚 $AXS ($3.72M)。 同样，Binance Labs 也是 Axie Infinity (AXS) 的投资机构，通过归属解锁一共得到了 1180 万枚的 AXS。 这其中的 1080 万枚 AXS 在过去 4 年里以 $10.13 的均价转进了币安，价值 $1.09 亿。… https://t.co/nj9xkuxoUV pic.twitter.com/625gQ0KJKJ — 余烬 (@EmberCN) December 7, 2024 This consistent transfer activity highlights Binance Labs’ strategic involvement in managing its investments. The movement of such large quantities of AXS into Binance may reflect an intent to enhance liquidity or capitalize on market conditions. As an early backer of Axie Infinity, Binance Labs’ involvement underscores its influential role in the cryptocurrency ecosystem. The significant amount of AXS still held by Binance Labs indicates ongoing confidence in the project, even as it adjusts its holdings through calculated transfers. These developments come amid broader market movements, with investors closely watching Binance Labs’ activities for insights into potential trends. The transfer of high-value tokens like AXS and GMT suggests that Binance Labs remains deeply engaged in shaping the market landscape, leveraging its position as both an investor and liquidity provider. For now, Binance Labs’ holdings and transfer strategies continue to play a pivotal role in supporting the liquidity and stability of key projects in the crypto space. Disclosure: This…

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Filed under: News - @ December 9, 2024 8:19 am