Hack VC received 1,279,890 MYX worth about $2.157 million from the airdrop contract within 7 hours.
The MYX Tokens were then transferred multiple times into two different wallets, with part sold on the market and the rest transferred to the MEXC exchange.
MAIN CONTENT
Hack VC received 1,279,890 MYX worth $2.157 million from the airdrop in 7 hours.
445,000 MYX were sold at an average price of $1.68, bringing in about $747,000.
The remaining 835,000 MYX was sent to the MEXC exchange at a price of $1.77, worth about $1.482 million.
How did Hack VC receive MYX Token and what is its value?
According to on-chain data analysis from researcher @ai_9684xtpa released on August 6, Hack VC - an investment organization participating in MYX Finance, received a total of 1,279,890 MYX Tokens from the airdrop contract within 7 hours.
The value of this amount of Tokens is estimated at around $2.157 million, reflecting a positive valuation and significant interest from major investors like Hack VC. Receiving the airdrop Tokens shows Hack VC's important role in the development process of the MYX Finance project.
How were the MYX Tokens transferred after receiving them?
The received MYX Tokens were later divided into two large parts.
The first part, approximately 445,000 MYX, was transferred to wallet 0x259…4FE57 and quickly sold at an average price of $1.68 per Token, bringing in about $747,000. This is a normal move to balance profits and recover capital from cryptocurrency assets.
The allocation and trading of the airdropped Tokens help investment organizations like Hack VC realize value while maintaining flexible positions in the market.
On-chain AI analyst, 2024
The remaining part, with 835,000 MYX, was transferred to address 0x72F…E5353 and sent to the MEXC exchange. This amount of Tokens was traded at a price of $1.77, equivalent to about $1.482 million, indicating plans to continue trading or reserve assets on the centralized exchange.
How does Hack VC's transfer of MYX Tokens affect the market?
Hack VC's large regulatory trade may impact liquidity and the price volatility of MYX in the market. The sale of 445,000 MYX at nearly $1.68 indicates a short-term profit-taking trend.
Meanwhile, transferring 835,000 MYX to the MEXC exchange helps increase trading capability and liquidity while maintaining balanced buy-sell pressure on the centralized exchange.
What can be predicted about Hack VC's upcoming strategy with MYX Token?
The allocation and trading of MYX Tokens indicate that Hack VC is actively managing capital and optimizing returns from the investment. Selling part of the Tokens while keeping a large amount of MYX on the MEXC exchange helps them remain flexible in response to market fluctuations.
This strategy demonstrates profound experience and expertise in asset management from a leading investment organization in the cryptocurrency finance sector.
Frequently Asked Questions
How many MYX Tokens did Hack VC receive from the airdrop?
Hack VC received 1,279,890 MYX Tokens from the airdrop contract within 7 hours according to on-chain analysis.
At what price were the MYX Tokens sold?
445,000 MYX were sold at an average price of $1.68 per Token, equivalent to $747,000.
Where did the remaining MYX Tokens go?
835,000 MYX Tokens were transferred to the wallet and then sent to the MEXC exchange at an average price of $1.77/Token.
How does this Token transfer affect the MYX market?
The sale of Tokens creates profit-taking pressure, while transferring Tokens to the exchange helps increase liquidity and balance MYX trading.
What is Hack VC's strategy with MYX Token?
Hack VC realized profits while maintaining a large amount of Tokens on the exchange to remain flexible in trading.
Source: https://tintucbitcoin.com/myx-nhan-2157-trieu-usd-tu-airdrop/
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