LookRare's Non-Formatable Token Exchange (NFT) trading volume has dropped by more than half of its daily trading volume. As the developer withdrew approximately $30 million of the original LOOKS token and withdrawn from Ether (wETH), the facts are quick.
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LookRare has an average daily sales volume of about $550 million. But it dropped more than 50% overnight in early February. When developers start withdrawing weETH through the Ethereum Tornado Cash mix service.
in the same way The price of the LOOKS token has dropped nearly 60% since February 10 and is trading at $1.69 at the current time.
A Feb. 8 report states that the developer withdrew 23,116 weTH ($73 million at the time) and ran it through the Ethereum Tornado Cash mixer, although developer Zodd, under the pseudonym Zodd, later confirmed that the figure. This is close to 10,500 ETH.
Zodd said many employees had not received any severance pay for more than six months after allocating large sums of funds for projects and teams receiving weETH would be publicly available.