Paradigm Unstakes All 6.5 Million ATOMs – Token Price Drops 2%

According to data on Mintscan, investment fund Paradigm canceled all 6.5 million ATOMs ($80 million) they held, deactivating all nodes and returning ATOMs to wallets. Currently, Paradigm’s ATOM balance on Mintscan is only 8,933 ATOM, or about $120,595.

ATOM transfer history to other Paradigm wallets. Source: Mintscan.

Prior to this, investment funds collected a large number of ATOMs when the price reached $0.08, and then staked the entire token.

It’s unclear what Paradigm’s motivation was for unstaking all of its tokens.

ATOM price has dropped about 2% since the news broke and is currently trading at $13.5.

Source: TradingView

Twitter user @ssatrading suggested that if the price of ATOM doesn’t fall sharply, it may be an off-market transaction, transferred to another investment fund that wants to buy back Paradigm’s ATOM in large quantities.

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