Potential Binance secondary market listing of $DBR
Quick post as I noticed some strange $DBR movements from the DBR Foundation main wallet. Last week they sent a total of 100M $DBR (1% of T. Supply) to three different wallets (screenshot #1 below):
- ◆50M DBR to gnCjHkTN1bQAUwssqFj8LbMgnMr38P4Av8VnrnxBgKU
- ◆25M DBR to HrtUb6g6AedLqPGkxsnmWgB549uyGS3qpC9gTCnkE7ef
- ◆25M DBR to hYxiSwXc61GjbnGf2FpTx5L4VZqnBZobGNMmJ94M3bb
Each of these addresses then sent their received DBR to different CEX deposit addresses where DBR is already listed such as Bitget, Bybit, Gate, Kraken. My guess is that this is potentially to MMs to improve liquidity on these CEXs before a potential big CEX listing such as Binance. This theory is supported by the fact that one of the address recipients (hYxiSwXc61GjbnGf2FpTx5L4VZqnBZobGNMmJ94M3bb), then sent some of the DBR received to another address -> 47pJ2B6gAN4f1o4257dptHnsPa2pLAhE6LQwZyXgsQ2H, which is connected to 2TVzEBdZpbErVKDZM9b9U3Gfi1hC34t1N6QXvkqRG6X1, which was one of the market makers of the DoubleZero TGE launch on Binance) but still no other proof that may imply that and could be a false alarm.
For the protocol fundamentals, fees, revenue, market share and comps see → https://www.bridgewtf.com/. TLDR is that the protocol is trading at 13x FDV/Buybacks and its Fees/Revenue have grown 2x in the last 3 months
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Ended up being Coinbase which means it didn't pump as much. I think they will eventually get a Binance listing, but unclear when. On to the next one. Shooters shoot. https://x.com/CoinbaseMarkets/status/1983199610450379165