A large sum of Shiba Inu Tokens (SHIB) valued at millions was transferred from the popular crypto exchange Bitvavo to an unidentified wallet. According to wallet tracker Whale Alert, the total number of SHIB transferred is about 4.6 trillion, valued at roughly $35.7 million.Further examination of the recipient address revealed that the wallet is newly minted with no history of past transactions. It is common for Bitvavo to store crypto tokens in unknown wallets, and the only known Bitvavo wallet holding Shiba Inu has about 250 million SHIB, valued at $1.93 million.Analysis indicates that the newly transferred SHIB has yet to be liquidated via exchanges, leading to speculation that this could be Bitvavo’s transfer of the assets for storage into an unknown destination. Loch_Chain looked at the transfer and highlighted that there are limited options of TVL pools where such sums of SHIB can earn yield, with probably only the Uniswap v3 pool of SHIB-WETh, which offers a 91% yield. However, the Uniswap v3 SHIB-WETH pool only has a TVL of $1.2 million, meaning the $35.7 million SHIB is not there. Analysts continue to monitor this address and any potential moves that could impact the SHIb token.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Loch_Chain, Whale Alert |
| Companies | PrimeXBT, Binance, Uniswap, Bitvavo, Whale Alert |
| Currencies | Uniswap, Shiba Inu, Ethereum, Bitcoin, Balancer Boosted Aave WETH |
| Securities | None |
