Early investor in Axie Infinity, Arca, has transferred unlocked AXS tokens to FTX, indicating a potential sell-off

ChainCatcher news, according to CoinDesk, Axie Infinity has released the first batch of 10 million locked AXS Tokens to early investors and insiders. The crypto asset management company Arca has transferred the unlocked AXS Tokens to FTX, a move that may indicate a tendency to sell.

In addition, on-chain information shows that a wallet labeled "Axie Infinity: Token Vesting" has transferred approximately 785,334 AXS tokens (worth about $6.6 million) to 6 recipients, with a total of 21.5 million AXS (worth about $200 million) expected to be unlocked in the coming days. (CoinDesk)