Summary
- Raydium (RAY) reportedly surged nearly 25% on Binance following the news of its Upbit listing.
- According to on-chain data, whale investor '256Eh2' was spotted moving 906,788 Raydium tokens to Binance.
- The tokens were analyzed to be moved for selling, and Raydium showed significant price fluctuations.
Cryptocurrency Raydium (RAY) soared nearly 25% today (19th) in the Binance USDT market after news of its listing on Upbit. Whale investor movements were also detected.
According to on-chain data analysis firm Lookonchain X on the 19th (local time), whale investor '256Eh2' deposited 906,788 Raydium tokens (approximately $2.26 million) to Binance shortly after Raydium's surge. Analysts anticipated that the tokens were moved for selling purposes.
As of 14:10 that afternoon, Raydium was trading at $2.684 (USD) on Upbit's KRW market, down 32.87% from its all-time high, and at $2.297 (USD) on Binance's USDT market, up 9.29% from the previous day.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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