Binance Listing Sparks COOKIE Token Sell-Off, Price Tanks 27%
The post Binance Listing Sparks COOKIE Token Sell-Off, Price Tanks 27% appeared on BitcoinEthereumNews.com.
Multi-signature wallet moves millions of COOKIE tokens, sparking market changes. COOKIE token price drops 27.5% after large sale, signaling market impact. Market cap of COOKIE stands at $157.72M with 30.12% of total supply in circulation. A multi-signature wallet connected to the COOKIE token project made some big moves after Binance said it would list the token. Just eight hours after Binance’s announcement, roughly 20 million COOKIE tokens (worth about $12.55 million) were sent to the exchange, triggering a COOKIE sell-off. The wallet still holds about the same amount of COOKIE, valued at around $11.33 million. All this activity has made the COOKIE market pretty volatile. A multi-sig linked to the Cookie project deposited 20M $COOKIE ($12.55M) to #Binance 8 hours ago, following the Binance listing news! This multi-sig received a total of 75M $COOKIE from Cookie’s Deployer wallet on June 13, 2024, and now still holds 20M $COOKIE ($11.33M). Follow… pic.twitter.com/5ChDY7hjbF — Spot On Chain (@spotonchain) January 11, 2025 Tracing the COOKIE Transfers The COOKIE transfers started with the “Cookie: Deployer” address, which moved 75 million COOKIE (worth about $8.92 million) to a probable multi-sig wallet labeled “Cookie: Multisign (likely) 0x458.” From there, another 20 million tokens (worth about $1.3 million) went to the address “0xf467db17…967. ” These tokens were then routed to Binance, where 20 million COOKIE (worth $12.75 million) were deposited. Source: X The final stop for these tokens was “Binance 6,” where another 20 million COOKIE were sent. COOKIE Token Price Takes a Hit So what happened to the COOKIE price? Well, 20.001 million COOKIE were sold for $12.375 million at an average price of $0.619 per token. The token’s price jumped before the sale but quickly fell after. Read also: Binance Futures Expands Market With New Token Contracts This price drop happened at the same time…
Filed under: News - @ January 11, 2025 2:22 pm