Binance/Bybit-funded wallets accumulated ~$12M FARTCOIN positions in 2 hours, potentially coordinating a squeeze similar to recent XPL activity.
DeFi & Yields ·
Three wallets linked to Binance and Bybit accumulated roughly 60 million FARTCOIN tokens—worth approximately $12 million—over a two-hour period and continued adding to their positions. The activity was documented via on-chain data, with multiple addresses traceable through blockchain explorers.
The coordinated accumulation mirrors tactics observed in recent market moves, specifically resembling positioning seen during the XPL squeeze several days prior. The parallel between these two episodes suggests a potential strategy centered on rapid position-building ahead of potential price movements.
It remains unclear whether the positions will continue to grow, at what price levels the wallets intend to exit, or whether additional coordination is occurring beyond the three identified addresses. The relationship between the Binance and Bybit funding paths and the actual trading intent also cannot be confirmed from chain data alone.