Dragonfly Capital-linked Wallet Makes Large SKY Token Deposit to Coinbase

A significant on-chain movement has been observed as a wallet suspected of belonging to crypto investment firm Dragonfly Capital has transferred 137 million $SKY tokens to the Coinbase exchange.

The value of these tokens is approximately $9.05 million, which represents a substantial drop from their original worth of around $20.45 million when they were withdrawn from Binance five years ago.