On-chain data shows that several tokens held by Alameda Research were sold for millions of dollars late Wednesday. On-chain data cited by cryptocurrency research firm Arkham Intelligence indicates that approximately $1.7 million worth of tokens in Alameda-associated wallets were sold on the open market in a few hours on Wednesday, sparking concerns among some community users that this had triggered a sharp drop in the prices of these tokens.
On-chain data shows that Ethereum-based tokens such as USD Coin (USDC), dai (DAI), curve (CRV), ether (ETH), convex (CVX), etc. were merged from several wallets into two wallets and later sold in exchange for USDT. ZachXBT noted that the funds were then converted into BTC.
According to Arkham Intelligence, Alameda still holds more than $112 million worth of various cryptocurrencies, down from the $140 million previously reported in mid-November. (CoinDesk)
