Shocking! A giant whale withdrew $57 million worth of FORM in three days! Is this a precursor to a surge or a prelude to selling pressure?
Recently, a large institution or whale has withdrawn a significant amount of FORM tokens from the Binance exchange for three consecutive days, withdrawing 7 million each day, totaling 21 million tokens over three days, worth approximately $57 million.
Such operations are quite attention-grabbing and may have several reasons: the first possibility is that they are optimistic about the long-term value of FORM and are moving the tokens to a safer cold wallet, or are taking them to participate in financial management or blockchain projects. This would reduce the number of tokens circulating in the market, which could be good news for the price. The second possibility is that they are worried about issues with the exchange and are withdrawing the tokens to avoid risks; or they are preparing to sell the tokens elsewhere, which requires caution because if they sell in large quantities afterward, the price may drop.
In the short term, with so many tokens withdrawn, the selling pressure on the exchange may be a bit lighter, and if there are no other bad news, the price of FORM may stabilize. However, if large institutions sell tokens on other platforms or privately afterward, the price could still fluctuate.
It is suggested that everyone should refrain from rushing to buy, observe for a day or two to see if the FORM price stabilizes, and check where these tokens have been withdrawn to—whether to cold wallets or other platforms—while keeping an eye on any new moves from the project team, such as system upgrades or partnership news. It is wiser to wait until confirming that there are no major risks before taking action.
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