Whale Recently Deposited 20M LINA to Binance, Potential Selloff?

• A recent tweet by Lookonchain noted a large LINA deposit to Binance made recently.
• According to the post, Jump Trading sent 20 million LINA to Binance earlier today.
• The altcoin’s price was down 4.71% and trading at $0.0223 at press time.

In a tweet published this morning, the blockchain tracking firm Lookonchain shared that Jump Trading recently made a large Linear Finance (LINA) deposit to Binance. According to the post, Jump Trading sent 20 million LINA, estimated to be worth $451K, to Binance earlier today.

Jump Trading deposited 20M $LINA ($451K) to #Binance again 35 mins ago.

Jump Trading has deposited 185M $LINA ($4.1M) to #Binance during the price rise, and every time the price of $LINA will drop after deposits.

Jump Trading still holds 64.7M $LINA ($1.46M) currently. pic.twitter.com/pllKeIRG0r

— Lookonchain (@lookonchain) June 1, 2023

The firm added to their tweet by noting that Jump Trading has deposited a total of 185M LINA to Binance, and that each deposit was historically followed by the altcoin’s price dropping. Despite depositing and selling a large amount of LINA over the past few days, Jump Trading still holds 64.7 million tokens, accor…

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