A bit of dull information about $SANTOS and Binance Fan Token Treasuries.
In the last 2 months, Binance Fan Token Treasuries transferred $10 million to the SANTOS token exchange in three tranches. The last transfer took place a week ago — 06.05.2024 for an amount of $1.46 million.
All transfers coincide with dates of increased volatility, when SANTOS made attempts to grow. At the same time, the price was maintained within a flat accumulation, which has been ongoing for 99 days.
From this, there are several thoughts:
1. Perhaps the supply in the order book has ended, and Binance is forced to sell assets from Treasuries?
2. Perhaps Binance is interested in maintaining the price in the current sideways movement for the long term and is restraining growth impulses?
3. Perhaps Binance intends to drop the price to $2 / $1.8 / $1.6?
I do not know the answers to these questions. However, one thing is clear: someone, or perhaps all of us, bought up almost the entire volume of these transactions #SANTOS from Treasuries.
In any case, SANTOS remains one of the most stable projects of group #FanTokens , but until the profit is realized — it is too early to relax.
The next 2 weeks will be decisive!
