In a pattern that has become consistent over the last two months, Alameda Research has methodically deposited substantial amounts of $WLD tokens into the cryptocurrency exchange Binance. Reports indicate that a total of 1.56 million $WLD, valued at approximately $2.51 million, has been transferred in 10 separate batches since August 9.
Each week, Alameda Research has deposited exactly 143,770 $WLD tokens, worth around $265,000, into their Binance account. The transfers have occurred at an average price of $1.605 per token. With a remaining balance of 23.44 million $WLD, valued at $43 million, it could take over three years for Alameda to completely unload their holdings at the current rate.
According to Spot On chain, Alameda Research’s top holding is now 98.86 million $BIT (currently known as $MNT) tokens, valued at $68 million. These tokens are slated for potential sale starting in November, following the conclusion of a three-year no-sale commitment made with BitDAO.
Implications for the Crypto Market
This consistent offloading raises several questions about market liquidity and the potential impact on $WLD’s price stability. Investors and market analysts will be closely monitoring Alameda’s activities, especially as the lock-up period for their largest holding nears its end, potentially introducing a significant amount of $BIT (MNT) into the market.
The attached visual data from Alameda’s portfolio management platform confirms the transaction details and highlights the distribution of their token holdings, emphasizing the substantial weight of $BIT in their investment strategy.
As the crypto community watches these developments, the strategic financial moves by Alameda Research are likely to influence $WLD’s market movements and could set precedents for how large holders manage and liquidate significant crypto assets in the future.
