They Made a Large Buyback – But the Price Is Still Far from Its Record High
Blockchain gaming neighborhood Yield Guild Video games (YGG) has carried out a $1 million buyback of YGG tokens.
Builders are believed to be utilizing income from the sport to buyback the sport.
In line with knowledge from onchain analyst Ember, the corporate withdrew 5.87 million YGG tokens from the trade yesterday after transferring 1 million USDT to Binance two days in the past. The common buyback worth was $0.17.
Analysts counsel that the funds used for the buyback could have come from YGG’s gaming income. The corporate’s first homegrown recreation, LOLLand, has generated roughly $1 million in income within the final 30 days.
At press time, the YGG token is buying and selling at $0.1539, down 11.03% on the day. The token has misplaced 98.65% of its worth since its peak of $11.50 in November 2021, and reached a low of $0.1192 in June 2023.
In the meantime, all the cryptocurrency market is presently in a bearish temper. Bitcoin has misplaced roughly 10% of its worth from its all-time excessive.
*This isn’t funding recommendation.
