Jump Trading, a prominent fund, recently made an on-chain move involving $HFT. The impact of their action was noticeable on the token's price, as detected by Datafi.

Summary:

• Accumulation of $HFT ceases.
• Jump Trading deposits 575K $HFT on centralized exchanges.
• First deposit after 48-day accumulation, causing 5% price decrease.
• Selling volume increases; 21.5M $HFT still held.

On December 28, 2022, at 5 PM UTC, Jump Trading made a significant deposit of 575,000 $HFT tokens on centralized exchanges including Binance and Bybit. The deposit was documented on the Ethereum blockchain explorer, Etherscan, marking the first such deposit by Jump Trading in 48 days since November 10, 2022.  

Jump Trading’s deposits showed on Etherscan.

$HFT price has dropped 5% since. Selling volume increases.

Following the deposit, the price of $HFT tokens has experienced a 5% drop, accompanied by an increase in selling volume. At present, Jump Trading holds a total of 21.5 million $HFT tokens, which have a current estimated value of $6.5 million.

This deposit has sparked debate among the crypto community, with some speculating that it could signal a cut loss for Jump Trading, while others believe that it could be part of a larger strategy to manipulate smaller traders ahead of a potential dump.

Hashflow (HFT) is a DEX allowing users to trade any asset on any chain within seconds simply by connecting their wallets.