Backpack Records $24M Net Inflow on March 16, Single-handedly Initiated by a Single Address

According to cryptocurrency analyst Tom Wan, decentralised finance (DeFi) platform Backpack observed a record net inflow of $24 million on March 16. This surge in fund inflow was predominantly prompted by a single address, known as ApQnTEGUNsKsM48. The address deposited 157,000 SOL tokens (equivalent to $28M) on the same day, with the funds originating from diverse exchanges including Kraken, Binance, and OKX. Interestingly, this transaction was not facilitated through a depositor address, leading Wan to suspect that the contributing party might be a market maker for Backpack.

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