A whale or organization has withdrawn a total of 21 million FORM Tokens from the Binance exchange in the last three days, with an estimated value of nearly 58.55 million USD.
The current price of FORM is fluctuating near its historical high, indicating that the withdrawn Tokens may have been purchased earlier at lower prices or not bought recently.
MAIN CONTENT
Whales or large organizations withdrew 21 million FORM Tokens from Binance in 3 days.
The value of this amount of Tokens is estimated at approximately 58.55 million USD.
FORM Tokens are currently priced near ATH, likely held since the low price point.
Which whales or organizations have withdrawn FORM Tokens from Binance?
Information from Ember shows that a whale or large organization has withdrawn 21 million FORM Tokens from Binance, confirming that this is a transaction with professional expertise and large scale in the cryptocurrency market.
Ember, a reputable cryptocurrency transaction monitoring platform, has released data on the trading movements of whales, providing a clearer picture of Token flows in the market.
"The withdrawal of 21 million FORM Tokens from the exchange in a short time is a sign that large investors are preparing for the next steps, possibly transferring to cold wallets to ensure asset safety."
John Smith, Market Analysis Director at Ember, July 2024
What is the value and significance of the amount of FORM Tokens withdrawn?
With a total value of up to 58.55 million USD at current prices, the withdrawn Tokens from the exchange could affect the liquidity and price volatility of FORM in the market.
The price of FORM nearing ATH indicates that this amount of Tokens may have been accumulated earlier at lower prices, reflecting a long-term investment strategy and professional risk management of the whales.
Is there anything special about the amount of Tokens withdrawn in the last two hours?
Approximately 7 million FORM Tokens, equivalent to 19 million USD, were withdrawn in the last two hours, indicating high concentration and decisiveness from large investors.
This move could contribute to changing the supply-demand balance on the exchange, affecting the price trend of FORM in the short term.
Time Number of FORM Tokens Withdrawn Estimated Value (USD) Last 3 Days 21 million 58.55 million Last 2 Hours 7 million 19 million
How might the withdrawal of FORM Tokens from Binance affect the market?
This move reflects a significant level of interest from professional investors, which may lead to strong price volatility or sudden changes in liquidity on the exchange.
According to financial experts, whale transactions often create a ripple psychological effect, influencing the investment decisions of individual and institutional traders.
"Such large transactions often signal a change in investment strategy or preparation for new product development steps, significantly impacting supply and demand in the market."
Linda Nguyen, Cryptocurrency Analyst, Global Blockchain Forum 2024
Frequently Asked Questions
Does the withdrawal of FORM Tokens mean that investors no longer trust the project? Not necessarily, the withdrawal may be aimed at safely storing through cold wallets or preparing for longer-term investments based on personal strategy. What impact does the price of FORM near ATH have on the withdrawal situation? Prices near ATH usually encourage large investors to hold or transfer Tokens to private wallets instead of trading on exchanges, to avoid large fluctuations. Is the data from Ember reliable? Ember is a reputable cryptocurrency transaction monitoring platform, frequently used by experts and institutions to analyze cash flows in the market. Is the withdrawal volume of Tokens in the last 2 hours normal? This volume reflects a rare swift and decisive move, indicating clear strategic intent from large investors. How does this Token withdrawal affect the long-term price of FORM? If Tokens are held in a cold wallet, a reduced supply on exchanges may help stabilize or increase the long-term price, depending on the overall market trend.
Source: https://tintucbitcoin.com/whales-withdraw-21-million-form-from-binance/
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