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CandyDrop
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Interesting on-chain data has surfaced. Lookonchain's monitoring shows that a wallet, which was recently activated, has spent $323,000 in the past 6 days to buy 15.4 million units of a popular token. The current book value of these tokens has surged to $549,000, with floating gains soaring to $226,000 — wow, double-digit returns.
Even more interesting is the background of this wallet. A week ago, it withdrew 700 ETH (worth $2.36 million at the time), 2 million USDT, and 1,000 BNB ($94,300) from Cobo Wallet, clearly preparing for a large-scale deployment. It looks like this money is serious; from the initial recharge to the completion of the sweep, the pace has been quite steady. Such on-chain activity often provides some insights for market-savvy observers.