Something odd is going on with $JCT
Over the last 6 days, about 24% of the circulating supply left 3 multi-signature wallet and landed in 14 brand new wallets. That's 2.79B tokens, worth around $5.6M at the time.
Then the price more than doubled. Those same tokens are now sitting at roughly $12.5M. I dug into one of the wallets. It holds 231.6M #JCTToken and hasn't sold a single token. But here's what caught my eye: it got its gas from a "gate" account 3 days before the tokens showed up. Someone planned this ahead of time, and the wallet can move whenever it wants.
So that's 14 wallets, ~$12.5M, all just sitting on a 2x.
Not saying what happens next. Just worth keeping an eye on.
Over the last 6 days, about 24% of the circulating supply left 3 multi-signature wallet and landed in 14 brand new wallets. That's 2.79B tokens, worth around $5.6M at the time.
Then the price more than doubled. Those same tokens are now sitting at roughly $12.5M. I dug into one of the wallets. It holds 231.6M #JCTToken and hasn't sold a single token. But here's what caught my eye: it got its gas from a "gate" account 3 days before the tokens showed up. Someone planned this ahead of time, and the wallet can move whenever it wants.
So that's 14 wallets, ~$12.5M, all just sitting on a 2x.
Not saying what happens next. Just worth keeping an eye on.