According to data from on-chain analyst Yu Jin, the Cosmos Network team has recently executed a significant transfer involving 295.3 BTC, equivalent to approximately $27.7 million. This transaction marks the first notable movement of these funds since the initial coin offering (ICO) conducted in 2017. Over the last two years, the team has strategically unwrapped assets accumulated during their ICO, which also includes a substantial disposition of 21,600 ETH. The total value of these assets liquidated in 2023 is reported to be around $78.67 million, showcasing a deliberate approach to managing their holdings. Despite these transactions, the Cosmos developers retain a considerable reserve consisting of 96.4 BTC and 17,188 ETH, with a combined valuation of around $67 million. This calculated asset management reflects the team’s ongoing commitment to liquidity and operational readiness within the dynamic cryptocurrency market.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024