Sigil Fund Exits BLUR for IMX and LDO
According to data from Lookonchain, Sigil, a fund based in Gibraltar, has sold its holdings of BLUR, one of the top-performing tokens this week. The fund exchanged 1.55 million BLUR for 807,799 IMX (worth approximately $1.14 million) and 210,905 LDO (worth $540,000). The transaction was conducted on-chain through multiple transactions.
This move by Sigil comes just three days after the fund withdrew 3.1 BLUR from OKX exchange. Despite BLUR’s strong performance in recent trading days, with the token more than doubling in value this week alone and reaching new highs above $0.60, Sigil has decided to exit its position.
While it remains uncertain whether the prices of LDO and IMX will continue to rise, both tokens have shown volatility in the market. BLUR’s performance has been supported by Alameda Research, and Sigil’s change in allocation is seen as an endorsement for DeFi.
In contrast, IMX is experiencing gains at 2023 highs based on the daily chart.
Hot Take: Sigil Fund Sells BLUR for IMX and LDO
Sigil, a Gibraltar-based fund, has made the surprising decision to sell its holdings of BLUR despite the token’s impressive performance in recent trading days. Instead, Sigil has chosen to invest in IMX and LDO. This move could be seen as an endorsement for DeFi and highlights the volatility of token prices in the market. While it remains uncertain how LDO and IMX will fare in the future, their current uptrends suggest potential growth opportunities. As investors navigate the crypto landscape, it’s important to stay informed about market trends and make strategic decisions based on the available data.
By
By
By
By