Developers Allegedly Selling a Significant Amount of this Altcoin

According to Onchain data, a large amount of altcoins were sold from wallets thought to belong to developers of an altcoin.

Onchain data obtained by Arkham showed that hours earlier, two wallets suspected to belong to AEVO developers sent 7.37 million AEVO tokens worth $3.18 million to cryptocurrency exchange Bybit, presumably for resale.

The two wallets in question received a total of approximately $64 million worth of RBN tokens, when the AEVO tokens were called RBN at the time. On the other hand, at the time of writing, these wallets hold a total of approximately $33 million worth of AEVO tokens.

AEVO was one of the Binance Launchpool projects. Like almost all Launchpool projects launched this year, AEVO also lost its initial investors. The AEVO price has lost 84% since its launch in March. The token is listed on Binance, OKX, and Bybit, but not yet on Coinbase.

On the other hand, it ranks 144th among the largest cryptocurrencies with a market value of $ 373 million.

*This is not investment advice.