These Crypto Tokens Fall 5% On Selling Reportedly By Binance Labs

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As an analyst with over two decades of experience in the financial industry, I find myself constantly scouring for patterns and trends that can help me navigate the ever-evolving crypto market. The recent move by Binance Labs to offload tokens from four different investment projects has raised some eyebrows, as it seems to have sparked a selloff concern among investors.

As a crypto investor, I’ve noticed the recent shift by Binance Labs, transferring millions of dollars’ worth of tokens for four distinct investment projects (UNA, PSTAKE, SIS, and HIP) to a crypto exchange like Gate. This move has sparked concerns about selloffs, leading to each token dropping more than 5% in value.

Why is Binance Labs Selling Crypto Tokens UNA, PSTAKE, SIS, and HIP?

Based on information from Arkham Intelligence, I’ve learned that Binance Labs, the venture capital wing of Binance, is planning to issue crypto tokens for four upcoming investment projects. This arm usually supports emerging crypto and blockchain ventures, particularly those focusing on technological advancements and sustainable business models that can generate long-term revenue.

According to blockchain records, it appears that the venture division has transferred approximately $2.79 million in cryptocurrency to Gate, possibly in anticipation of a sale. This transfer includes around 47.61 million UNA ($1.27 million), 25 million PSTAKE ($1.24 million), 2.85 million SIS ($270,000), and 2 million HIP ($7,330).

As a researcher, I’ve discovered that some tokens, which were previously locked within Binance Labs’ investments, have been recently unlocked. Interestingly, it’s important to note that at the moment, these tokens are not included in the listings on Binance.

At this moment, the price of UNA has dropped by 7.23%, and is being traded at $0.02512. Its market capitalization has fallen below $6 million. Despite this, UNA continues to show a 4% increase on its weekly chart, even as the broader market experiences a rally.

In the same vein, Symbiosis (SIP) and HIPPOP have dropped by 5.87% and 12% respectively since their move from Binance Labs. Despite this, the venture investment platform is still actively pouring funds into fresh initiatives. Just two days ago, they announced an investment in Brevis, a ZK-coprocessor platform that allows for verifiable, trustless computations on historical on-chain data, thereby opening up new possibilities for applications by unlocking novel use cases.

Fresh Offering For ACT, PNUT, NEIRO

As a researcher, I’m constantly monitoring the latest developments in the cryptocurrency market. Notably, Binance, a leading exchange, continues to list fresh and sought-after crypto tokens such as The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO. The surge in investor interest towards PNUT is undeniable, with its price skyrocketing by over 1500% within the last week. This significant rally has undoubtedly piqued the curiosity of many crypto enthusiasts.

After being listed on Binance, the price of the ACT token has persistently climbed upwards, increasing an impressive 2800% over the past week. This latest spike in the value of ACT is happening concurrently with a surge in popularity for meme coins throughout the cryptocurrency market. This surge was ignited by a massive rally in PEPE Coin (PEPE) after it got listed on Coinbase, Robinhood, and Upbit exchanges just yesterday.

On Binance, the popular cryptocurrency exchange, they persistently add sought-after projects to their platform, offering additional liquidity enhancements to the associated tokens.

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2024-11-14 17:10