Potential Price Drop Alert for Asian Coin Company: Analyzing the Future of the Crypto Market (COIN)

• The Asian blockchain company, Hashed, may be preparing for a significant sale on Binance.
• According to blockchain analysis platform Lookonchain, Hashed transferred 16.65 million C98 tokens (worth $4.2 million) to Binance.
• Hashed was one of the major investors in Coin98, which raised $11.25 million in funding in May 2021.

Hashed, a leading Asian blockchain company, has transferred a substantial amount of C98 tokens to Binance, sparking speculation of a significant sale. This move comes amidst a week of value loss for the C98 token.

Hashed’s Major C98 Transfer

Blockchain analysis platform Lookonchain reported that Hashed transferred 16.65 million C98 tokens, equivalent to $4.2 million, to the Binance exchange. This substantial transfer has led to speculation that Hashed may be preparing for a significant sale on the platform. Hashed was one of the major investors in Coin98, a decentralized trading platform, which raised $11.25 million in funding in May 2021.

C98 Token’s Market Performance

The C98 token, issued by Coin98, has experienced a 12% value loss over the past week, according to TradingView data. At the time of writing, the C98 token is trading at $0.2532. The potential sale by Hashed could further impact the token’s market performance. Hashed’s last major transfer of C98 tokens was in October 2023, when it moved 623,000 C98 tokens.

About Hashed

Founded by Simon Kim in 2017, Hashed is a South Korea-based blockchain company that has over 20 projects in its portfolio. The company’s potential sale on Binance could be a strategic move to capitalize on its investment in Coin98, given the recent market performance of the C98 token.

Conclusion

The significant transfer of C98 tokens by Hashed to Binance has sparked speculation of a major sale. This comes amidst a week of value loss for the C98 token. The potential sale could further impact the token’s market performance, and it remains to be seen how this move by Hashed will play out in the crypto market.