A new crypto wallet received 9.3 million KTA and 2 billion GALA via cross-chain transfer, then sold the tokens, with the sale suspected to be a cash-out that caused a sharp price drop for the two cryptocurrencies.

1 hours ago

According to Lookonchain monitoring, a newly created wallet received 9.3 million KTA (valued at approximately $685,000) and 2 billion GALA (worth around $3 million) via a cross-chain bridge, then sold all these tokens to acquire 1,902 ETH (valued at roughly $3.64 million). This large sell-off triggered severe market volatility. Per HTX market data, KTA’s price plunged 37% at one point, while GALA’s price dropped 15%.

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