"Withdrawal of 638.08 million Fantom (FTM) from Binance to Anonymous Address... Approximately 649 billion KRW"
Summary
- It was reported that a total of 638.08 million FTM was withdrawn from Binance to an anonymous address in two transactions.
- The transaction size is approximately 649 billion KRW, which is related to the potential price increase of FTM.
- Binance previously announced that it would support the rebranding of FTM.
A total of 638.08 million Fantom (FTM) was withdrawn from the global cryptocurrency exchange Binance in two transactions.
According to the cryptocurrency transaction tracking site Whale Alert, at around 23:14 on the 14th, 318,089,668 FTM was withdrawn from Binance to an external wallet address. Additionally, at 23:32, another 320 million FTM was withdrawn to the same address. This amounts to a total of $444.23 million (approximately 649 billion KRW).
It is generally known that the more a specific coin is withdrawn from a cryptocurrency exchange, the higher the possibility of its price rising.
On the other hand, there is speculation in the community that this withdrawal might be a preparation for the rebranding of FTM. Previously, Binance announced that it would support the token swap and rebranding from Fantom (FTM) to Sonic (S).
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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