Huge $320 Million NEO Token Transfer Causes a Stir While Near $150 Million BTC Whale Moves Funds

The NEO foundation team shed light and reduced confusion with regards to the transfer of 29,461,168 NEO worth over $326 million, which is about half of the total NEO in circulation reported by whale watchers.

The funds were transferred back to the original account within a span of 4 minutes from the initial move. This caused a stir on Twitter by crypto enthusiasts, with many wondering what exactly NEO was up to.

NEO Foundation Statement

Hours after the transactions, the NEO foundation team, which half of the total NEO supply belongs to, made a statement, stating that the transaction was routine :

“On May 23rd, NF transferred 5,538,832 newly unlocked NEO to the unlocked address. The remaining 29,461,168 NEO were first sent to a change address before being transferred back to the locked address. This was done to differentiate the transactions for the community’s reference. NF would like to reiterate that, as noted in the White Paper, the newly unlocked NEO will not be sold on exchanges. These funds are used to build the NEO ecosystem and support the growth of the community. An article detailing EcoBoost and how these funds are used will be released in the near future.”

Major Bitcoin Transactions

Meanwhile, millions of dollars worth of Bitcoin (BTC) are still constantly moved by whales, as the value of BTC dropped to as low as $7,548 before rising again to about $7,834. The market cap of the entire crypto market has risen in the last 24hrs from a little over $233 billion to about $243 billion.

Within the last 8 hrs, some of Bitcoin’s biggest wallets transferred over 19,000 BTC worth a little above $146 million.

These transactions are listed in the hierarchy, from the highest to the lowest, below:

  • 4,624 BTC worth about 36 million USD from an unknown wallet to an unknown wallet
  • 4,036 BTC worth 30.8 million USD moved from an unknown wallet to an unknown wallet
  • 2,500 BTC worth 19 million USD from an unknown wallet to Bitfinex
  • 2,279 BTC worth over 17 million USD from bitFlyer to Coincheck
  • 2,261 BTC worth 17 million USD from an unknown wallet to bitFlyer
  • 2,000 BTC worth over $15 million from Coinbase to an unknown wallet
  • 660 BTC worth 5 million USD from Bitstamp to an unknown wallet
  • 726 BTC worth over 5 million USD from Huobi to Kraken

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