Over the past week, GSR has been actively depositing OM tokens to centralized exchanges. One hour ago, the wallet 0xd39df deposited 2 million OM, worth approximately $1.57 million, to Binance.
This wallet, created within the last three weeks, has received over 33.5 million OM, valued at around $22.21 million, from four different wallet addresses.
GSR has been depositing $OM to #CEX over the past week?
1hr ago, wallet 0xd39df (https://t.co/DnDIYPXgke) has deposited 2M OM ~ $1.57M to #Binance.
This wallet was just created within the last 3 weeks. And it has received over 33.5M $OM ~ $22.21M from 4 different wallet… pic.twitter.com/UGQQ0LKrKi
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 1, 2024
Out of the 33.5 million OM received, more than 12 million OM have been staked, and 4 million OM, valued at approximately $3.23 million, have been deposited to OKX and Binance within the past week. Wallet 0x03c7, one of the four addresses that sent OM, is directly related to the GSR 0x2478 fund wallet and the Mantra DAO project.
The GSR 0x2478 wallet received OM from the MantraDAO Treasury in two batches:
– November 2022: 116.66 million OM at a price of $0.044
– May 2023: 38.9 million OM at a price of $0.022
Wallet 0x03c7 (https://t.co/EC0HESxMvo), 1 out of the 4 addresses that sent OM, is directly related to GSR 0x2478 fund wallet (https://t.co/030tTv7Rxd) and the Mantra DAO project.
The GSR 0x2478 wallet received $OM from the MantraDAO Treasury in 2 batches:
– 11/2022: 116.66 $OM… pic.twitter.com/dqCoIXl9IX
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 1, 2024
Entire Amount Moved Into New Wallets Six Months Ago
The entire amount was distributed to the new wallet address six months ago through Binance exchange, coinciding with the time when the four wallets mentioned above received a large amount of OM.
This activity suggests that GSR is actively engaging with OM tokens at the current time, with the price of OM having increased at least 18 times, from $0.044 to $0.78 now. The significant transactions and staking activity indicate a strategic interest in OM, possibly anticipating further price increases or other benefits from holding and staking the token.
As GSR continues its involvement with OM, the market may see further movements and strategic shifts, reflecting the ongoing interest and potential growth in the value of OM tokens.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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