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Binance‘s 30th Launchpool, the native asset of the Space ID platform, ID, has seen a double-digit increase in the last 24 hours, surpassing the $0.60 threshold. During this period of a strong price surge for the altcoin, a major investor moved 5 million ID tokens, valued at $3.1 million, to the giant cryptocurrency exchange Binance.
$3.1 Million Worth of ID Moved to Binance
According to data compiled by on-chain data provider Spot On Chain, a wallet address starting with 0z1c7b48 recently moved 5 million ID tokens worth $3.1 million to Binance in a notable transaction. Spot On Chain indicated that the IDs moved to Binance were part of the tokens distributed 16 days ago through a Space ID Distributor contract.
Interestingly, the investor appears to be an institutional-level investor of the Space ID project. However, it has been claimed that the wallet address is linked to the Amber Group, a digital finance institution and one of the institutional investors in the Space ID project, but this claim has yet to be confirmed.
Furthermore, the fact that the wallet address in question received identity from another wallet address linked to DWF Labs, 0xddacad3b, has led to speculation that DWF Labs might be the seller, although there is no confirmed connection between the wallet address and the company.
ID’s Price Rises with Upbit’s Listing Announcement
At the time of writing this article, the price of ID has increased by 19.82% in the last 24 hours, trading at $0.6014. Data shows that the altcoin has recorded an extraordinary increase of 114.30% in the last 7 days and 122.93% in the last 30 days. The market value of the altcoin also increased by 17.60% in the last 24 hours, reaching $282.49 million.
Market observers point out that the recent price increase of ID is particularly due to the listing announcement by the Upbit exchange. This listing could potentially expand the altcoin’s investor base significantly.
