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Bankrupt cryptocurrency loan company Genesis is preparing to sell altcoins.
According to Lookonchain’s post, Genesis Trading deposited $33.67 million worth of altcoins into Gemini during the day.
While more than 30 altcoins worth 33.6 million dollars were transferred, the altcoins were listed as follows:
“16.4 million GRT (valued at $4.69 million) 396 million AMP (valued at $2.94 million) 123 thousand INJ (valued at $2.93 million) 32,331 AAVE (valued at $2.88 million) 970 PAXG (2, 9.19 million BAT (valued at $2.25 million) …..”
Apart from these, popular altcoins such as CRV, APE, LINK, SUSHI were also among the transferred altcoins.
Lookonchain also listed the cryptocurrencies Genesis currently holds. Accordingly, Genesis holds cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Compound (COMP), Avalanche (AVAX), SHIB, RNDR, MKR.
These sales are expected to be sold not all at once, but at regular intervals over time through bots to avoid dumping the market.
Genesis Trading deposited $33.67M of assets to #Gemini 6 hours ago.
Including:
16.4M $GRT($4.69M)
396M $AMP($2.94M)
123K $INJ($2.93M)
32,331 $AAVE($2.88M)
970 $PAXG($2.26M)
9.19M $BAT($2.25M)
…And Genesis Trading currently holds $2.41B of assets.
Including:
32K $BTC($2.02B)… pic.twitter.com/Z8D3LJhojc— Lookonchain (@lookonchain) May 10, 2024
*This is not investment advice.
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