The deployer-linked address of VELVET transferred over $2.5 million worth of tokens to exchanges before the price crash.
Foresight News reported that the on-chain analytics platform Bubblemaps tweeted that the VELVET deployer-related address transferred a large number of tokens to centralized exchanges before the token price plummeted. The address associated with the token creator received 72 million VELVET (approximately $25 million) in March, and from June 6 to 9, about $2.5 million worth of tokens were transferred to exchanges. The project team has not explained these transfers to date, only describing the price fluctuations as "speculative behavior."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How will US stocks move after the midterm elections? Wolfe warns of a "wall of worry" about AI, while Morgan Stanley says the correction is nearing its end.
The "wall of worry" surrounding AI stands in the way, with Nvidia’s earnings report and oil prices becoming key variables.
Yen loses ground to the Dollar despite US-Iran deal hopes
GPRO rose 10.5% in 1 hour
Crypto prices
More
