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Analysis: XMR's recent surge was driven by buying pressure from a $23 million hacker fund

BlockBeats News, May 30th - According to MLM Monitor, three days ago, an address suspected to be associated with a hacker group withdrew approximately $29.3 million USDC from Coinbase and subsequently exchanged the funds for DAI. Yesterday, the same address swapped some DAI back to USDC and further purchased Monero XMR through multiple related wallets.

The related address accumulated around $23 million XMR, driving a nearly 15% price surge in XMR. Currently, these addresses still hold about $4 million DAI on-chain, but no further XMR accumulation actions have been observed.

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Analysis: XMR's recent surge was driven by buying pressure from a $23 million hacker fund

$59 million HYPE Spot Price "Sell-off Signal"? Loracle Initiates Slight HYPE Short Position Reduction

Analysis: Approximately $12.6 million in Funds Suspected to be Frozen by Circle Linked to Overnight

Analysis: XMR's recent surge was driven by buying pressure from a $23 million hacker fund

An Ethereum OG sold a total of nearly 65,000 ETH over the past week, cashing out approximately $136 million.