Controversial Move by Cryptocurrency Company: Dumped All of This Altcoin to Binance as the Price Soared

According to Onchain data, cryptocurrency trading company Amber Group moved some of its altcoins to Binance.

Data shows that $4.26 million of Frontier (FRONT) altcoins belonging to the company in question were transferred to Binance. The company purchased these tokens by paying a total of $2.69 million. So, if the tokens sent to Binance were indeed sold, the company made a profit of $1.57 million from this trade.

In addition to Binance, FRONT is also traded on cryptocurrency exchanges such as OKX, Kucoin and Binance TR. At the moment of writing this article, it is at $ 1.47, with a 5.76% increase in the last 24 hours, and the total market value is around 132 million dollars.

However, Amber Group still has a large amount of altcoins in its known cryptocurrency wallets. The company’s total cryptocurrency wallet asset value is at $57 million. The majority of these, with $32 million, are Ethereum (ETH) assets. Then comes ID with 10 million dollars, GAL with 6 million dollars, USDC with 2 million dollars, USDT with 1 million dollars and DYDX with 900 thousand dollars.

Prior to the sale, FRONT was one of the company’s largest altcoin holdings.

*This is not investment advice.

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