One of the largest cryptocurrency venture capitalists, a16z, based on on-chain data, has likely moved a large amount of tokens of an altcoin to a centralized exchange for the purpose of selling.
Onchain data showed that crypto wallets connected to a16z transferred 300,000 Compound (COMP) tokens worth 13.75 million dollars to the cryptocurrency exchange Coinbase Prime.
a16z, as one of the leading investors in Compound, received 1 million COMP, which is 10% of the total supply, in March 2020 due to being an early investor. After the last transfer, a16z still holds 500,000 COMP tokens worth 22.9 million dollars.
Interestingly, when examining all of a16z’s cryptocurrency assets, it is observed that they have a total balance of 451 million dollars. Of this, 428 million dollars is found in the Uniswap (UNI) token. Another notable cryptocurrency asset is the Optimism (OP), valued at 10.52 million dollars.
On the Ethereum side, there is only a modest investment of 13 thousand dollars.
*It is not investment advice.
Follow our Telegram group, Twitter account, and Youtube channel immediately for exclusive news, analyses, and on-chain data! Also, start live price tracking right away by downloading our Android and IOS applications!
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
