Thanks to the ‘XRD Whale Observer’ Telegram bot, the Radix community was able to spot some large token moves that originated from the Radix Foundation wallet. One big move in particular concerned more than 21 million XRD towards Bitfinex. Other moves concerned multiple transfers of several million XRD to different exchanges, distributed from a wallet which originally received its funds from the foundation.
While these moves raised concerns and were thought to be the cause of the downward movement of the XRD price, RDX Works CEO Piers Ridyard shed some light on the movements on Twitter, emphasizing that RDX Works does not dump tokens on exchanges:
The Foundation/RTJL/RDX do not dump sell on exchanges. Periodically tokens are moved for a variety of reasons such as balancing eXRD/XRD bridging, market makers, strategic OTC, & other operational reasons. The frequency of these movements will increase as we approach Babylon.