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In an exciting turn of events witnessed across the broader crypto market, SatoshiVM, an address orbiting SAVM token, sparked immense curiosity among traders and investors globally as it made colossal transfers to over 200 addresses on Saturday. As per on-chain data surfacing over the crypto horizon, the address recently shifted a whopping 1.21 million SAVM to numerous addresses. Meanwhile, the SAVM token price dropped substantially today, fueling additional speculations orbiting the transfer and the token’s price.
A Closer Look Into The Report
According to the on-chain data revealed by Lookonchain, a platform offering on-chain metrics, SatoshiVM transferred a staggering 1,217,818 SAVM to numerous addresses linked to influencers on Saturday, January 20. As per the data, these SAVM tokens were transferred to 248 different addresses, nabbing significant attention globally. Intriguingly, a wallet linked to Thor Hartvigsen also received SAVM among these addresses, building additional speculations orbiting the transfer.
Moreover, the number of coins transferred totaled a whopping $10.5 million, amounting to 11.5% of the token’s total supply to date. This appears to have piqued the market’s interest, as such colossal transfers usually result in a token’s significant price action.
Meanwhile, these addresses still held 483,493 SAVM, worth $4.16 million, whereas 734,325 SAVM were either transferred or sold.
Furthermore, in another recent chronicle revolving around SAVM, a trader recently amassed a profit worth $6.77 million using Banana Gun. This further propelled speculations among crypto market enthusiasts globally, aligning with today’s noteworthy transfers.
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SAVM Price Plunges
As of writing, the SatoshiVM price noted a substantial drop of 10.74% over the past 24 hours and is currently trading at $9.91. However, the token’s weekly chart showcased a 9.11% jump, accompanied by a monthly upswing of 9.58%. Notably, the market cap stood still at $68 million, whereas the trading volume sunk 38.74%, reaching $73.66 million today.
Also Read: Shibarium Nears 300 Million Transactions Amid Daily Count Dip
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