7.5 Million FTM Moved on Binance, Entity and Timing Behind This Transfer Will Surprise You

The Fantom Foundation, which is the main driving force behind the Fantom ecosystem, has transferred 7.5 million FTM tokens to Binance, according to recent on-chain data. This is the first time since the LUNA/UST crash in May 2022 that the foundation has transferred tokens to Binance, which could be a signal that the foundation is looking to take profits ahead of a potential market reversal.