Frax Finance, established in 2020, offers FRAX, a unique stablecoin in the crypto space, along with its governance token, Frax Shares (FXS), which accrues various revenues and collateral value. Despite reaching a peak of $42.67 in April 2022, FXS has demonstrated volatility and sensitivity to market conditions. BlockTower Capital appears to be dumping $FXS! In the past 2 days, the VC sold 150,304 $FXS for 1.51M $USDC at ~$10.5, allegedly causing the price to drop ~11%. They last sold $FXS just 7hrs ago and may sell the last 91,693 $FXS ($843K) soon. Est. total profit: $961K (+69%).… https://t.co/EheQsTKN61 pic.twitter.com/deJR2w38go —
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