LSK 9.2 Million Moved to Binance Address After Multi-Sig Transfer

On-chain data reveals that 9.2 million LSK tokens were transferred from a multi-signature address before 2 million of them entered a Binance deposit address believed to belong to GSR Markets. PANews reported on July 17, citing on-chain analyst Ai Mo (Ai 姨), who suggested GSR Markets may be acting as a market maker for LSK. The transferred LSK tokens are valued at $6.52 million (approximately 89 billion KRW). This follows similar movements observed nine months ago. LSK previously surged to $2.37 over the weekend, marking roughly a tenfold increase, but now trades at $0.5084. Market capitalization has reportedly fallen by 78.5% from its peak.