Babylon Labs retweeted a post from Lombard Finance stating it was unstaking BTC as part of a transition to a new set of finality providers.
Bitcoin staking protocol Babylon saw $1.26 billion in BTC unstaked from its platform, reducing the protocol’s total value locked by 32%.
On April 17, blockchain analytics firm Lookonchain flagged several addresses that had unstaked a total of 14,929 Bitcoin (BTC) from the staking platform. The security firm flagged four addresses that had unstaked 299 BTC, 499 BTC, 1,000 BTC and 13,129 BTC.
One address held a majority of the unstaked assets worth $1.1 billion. With BTC prices hovering at around $84,400, the total unstaked BTC was worth about $1.26 billion.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments