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$329 million PYUSD suddenly transferred: mysterious Wallet large amount movement draws follow
[Coin World] There is another major move on-chain.
Just detected a massive PYUSD transfer - 329 million tokens, which amounts to about 329 million dollars at current prices. Both the sender and receiver are unknown wallet addresses, so it's unclear who is behind the operation.
Transfers of this magnitude are usually uncommon. It could be an institution rebalancing its portfolio, a market maker reallocating liquidity, or even some whales trading over-the-counter. As a stablecoin launched by PayPal, the scale of this transfer is already quite considerable.
The specific intentions still need to be observed in the subsequent developments to see where these coins will ultimately flow - whether into exchanges, DeFi protocols, or continue circulating between wallets.