Despite the GOAT price increase, market concerns were sparked when Truth Terminal’s co-founder announced its final treasury migration.
In a captivating development, investors are now cautiously monitoring Goatseus Maximus’s (GOAT) price in anticipation of the token’s final treasury migration, recently announced by its backer, Truth Terminal.
Andy Ayrey, the co-founder of the AI-based entity, announced on Wednesday that the treasury’s final migration is currently in progress. Consequently, market observers continue to harbor reservations regarding the meme-inspired coin, which incorporates AI technology, despite its upward intraday movement.
Last Treasury Migration Announced by Truth Terminal Raises Concerns Regarding GOAT price
In an X post dated November 27, Andy Ayrey, the co-founder of Truth Terminal, announced that the organization’s final treasury migration is currently in progress. Market observers remain concerned even though the co-founder provided users with assurances of safety during the transmission of funds.
Andy emphasized that the funds are being transferred globally to an adequately distributed multisig address. The new TT address is ‘3xzTSh7KSFsnhzVvuGWXMmA3xaA89gCCM1MSS1Ga6ka6.’
In the interim, the co-founder disclosed that the ecosystem was upgrading the treasury’s security. This initiative initiated the final transfer today.
Additionally, Andy informed us that “all balances will remain public, and no trades, buys, or sells will occur until we have a clear public statement on wallet governance!” Nevertheless, due to the recent change in the treasury fund, the meme currency is the subject of apprehension in the regular market. Nonetheless, it is also important to note that the coin is recognized for providing investors with profits.
What is the current state of the cryptocurrency market?
Despite market concerns, GOAT price traded in the green intraday, rising by nearly 13% to $0.8383. The intraday low and high were $0.7362 and $0.8799, respectively. It is worth noting that the token’s intraday trading volume increased by 27% to $407.51 million. In turn, GOAT’s increasing movement has defied the broader market trend.
Concurrently, Coinglass data revealed that the open interest in Goatseus Maximus futures increased by 10% to $252 million. Additionally, the derivatives volume increased by 11% to $388 million.
This data generally emphasized the token’s substantial market interest even though Truth Terminal migrated its treasury funds. Nevertheless, market observers continue to monitor the coin for potential price action maneuvers in the future, given the recent changes in the ecosystem.