Binance, the world’s largest cryptocurrency exchange, recently added the COOKIE token to its list. Following this development, the token price saw a sharp increase. Seeing this situation as an opportunity, a multi-signature wallet piled millions of COOKIE tokens on exchanges. The COOKIE token price fell 27.5 percent after the big sale, indicating a market impact. Currently, COOKIE has a market capitalization of $157.72 million and 30.12 percent of the total supply in circulation.
Binance exploded with its listing, hit by intense selling pressure!
As you follow from Kriptokoin.com, the giant crypto exchange Binance announced that it added COOKIE to its list. This listing news triggered a strong increase in the token price. A multi-signature wallet affiliated with the COOKIE token project made some big moves after Binance said it would list the token. Just eight hours after the Binance announcement, it sent nearly 20 million COOKIE tokens (worth about $12.55 million) to the exchange. This triggered a COOKIE sell-off. The wallet still holds the same amount of COOKIE, worth about $11.33 million. All this activity has made the COOKIE market highly volatile.
COOKIE transfers started with the address “Cookie: Deployer”. Also, 75 million COOKIEs (worth about $8.92 million) were moved to a possible multi-sig wallet labeled ‘Cookie’: Multisign (probably) 0x458.” From there, 20 million tokens (worth about $1.3 million) went to “0xf467db17…967. “ These tokens were then redirected to Binance, where 20 million COOKIEs (worth $12.75 million) were deposited. The last stop for these tokens was “Binance 6”, where another 20 million COOKIEs went.
COOKIE token price took a hit!
20.001 million COOKIEs were sold for $12.375 million at an average price of $0.619 per token. The token’s price spiked before the sale, but dropped precipitously after the sale. The fact that this price drop occurred at the same time as the sale suggests that this large transaction likely affected market sentiment and the token price. COOKIE’s value saw a 27.5 percent drop in 24 hours. Thus, it fell to $0.531 at the time of writing.
Meanwhile, the trading volume also dropped after the price spike. This suggests that the market is entering a consolidation phase. Currently, COOKIE has a market capitalization of $171.09 million. Also, there are 321,637,101 tokens in circulation. This is 30.12% of the total supply, which is capped at 1 billion tokens.
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