Dump concerns have been raised regarding 2Z, the token for the new blockchain infrastructure project DoubleZero.
Jump Crypto has acquired 2Z worth $42.8 million in the last two hours, according to data shared by on-chain analytics platform Arkham. Approximately $20 million of these assets have been deposited with Binance and Bybit. These moves have raised questions in the market whether Jump Crypto is preparing for sale.
The DoubleZero Foundation recently announced the launch of the mainnet beta for the project. DoubleZero aims to create a dedicated “highway” for blockchains on the Internet. The fiberline-operated network aims to improve performance by reducing the latency of blockchain transactions, allowing valiters within the Solana ecosystem to communicate faster and more reliably.
Investors are closely watching how Jump Crypto’s exchange transfer affects prices along with the technical promises of the project.
At the time of writing, 2Z has a market capitalization of $2.25 billion and is trading at $0.64.
*This is not investment advice.
