Based on the current price of $6.15, this transfer is worth a full $29.05 million. Interestingly, this wallet address was just created recently, and aside from this incoming transfer, there are no other records. The tokens are still sitting in the account, with no signs of transfer, exchange, or sale.
Large transfers directly released from governance contracts usually have a story behind them. According to the DAO's plan, this is most likely related to budget allocation or phased release plans. For example, the recently approved expansion proposal mentioned an annual growth budget of 20 million tokens—starting from January next year, 5 million tokens will be released quarterly.
The community is speculating whether this is the first batch of quarterly funds arriving. The possible uses are limited to a few directions: supporting core development, ecosystem incentive programs, or operational costs for the lab team. However, the official has not provided a clear statement yet.
The market is now waiting to see what actions will follow. The key question is whether this money will be immediately injected into the market and whether there will be short-term selling pressure—that's quite directly related to the token price.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
21 Likes
Reward
21
5
Repost
Share
Comment
0/400
DaoTherapy
· 01-08 22:48
$29 million just lying around like this? Luckily, I didn't rush to dump, or there would have been another blood crash.
View OriginalReply0
MEVSandwichMaker
· 01-06 08:53
The new wallet was created with $29 million right away. This operation is indeed a bit suspicious... The officials should give an explanation.
View OriginalReply0
IntrovertMetaverse
· 01-06 08:49
New wallet appears with 29.05 million... With this kind of move, brother, could it really be some institution lurking?
---
Wait, the official statement is missing? That's a bit outrageous, such a big information gap.
---
Lying still... I'm just worried it might suddenly dump everything all at once, causing the coin price to plummet.
---
Quarterly funds? Sounds official, but I just want to know where this money ultimately goes—development or cash-out.
---
The newly created wallet making such a big move, the community really can't sit still haha
View OriginalReply0
ForkMaster
· 01-06 08:43
A new wallet just received 29 million, I've seen this trick before. When will the project team learn to be transparent? Betting five cents of this funds to be dumped within three months.
---
Quarterly release of 5 million coins? Listen, this is just paving the way for future sell-offs. Not a single truthful word from the official mouth.
---
Funds lying dormant in accounts are the most dangerous. As soon as the coin price drops, they become bombs for dumping. As a parent of three, I now have shadows whenever I see project team transfers.
---
It's either governance contracts releasing directly or no official statement—typical of playing both sides. The market is being toyed with like monkeys.
---
Who dares to take on the selling pressure of 29 million USD? I'm more concerned whether this is some insider’s fork arbitrage preheating.
---
New address, large transfers, no records—if it were me, I’d run. All signs point to one word—dump.
View OriginalReply0
LightningPacketLoss
· 01-06 08:35
29 million is pouring into the new wallet... We'll have to see when the officials get restless and start acting.
Based on the current price of $6.15, this transfer is worth a full $29.05 million. Interestingly, this wallet address was just created recently, and aside from this incoming transfer, there are no other records. The tokens are still sitting in the account, with no signs of transfer, exchange, or sale.
Large transfers directly released from governance contracts usually have a story behind them. According to the DAO's plan, this is most likely related to budget allocation or phased release plans. For example, the recently approved expansion proposal mentioned an annual growth budget of 20 million tokens—starting from January next year, 5 million tokens will be released quarterly.
The community is speculating whether this is the first batch of quarterly funds arriving. The possible uses are limited to a few directions: supporting core development, ecosystem incentive programs, or operational costs for the lab team. However, the official has not provided a clear statement yet.
The market is now waiting to see what actions will follow. The key question is whether this money will be immediately injected into the market and whether there will be short-term selling pressure—that's quite directly related to the token price.