Whale Wallets Target This Altcoin: More Than 11% of Supply Withdrawn From Exchanges!

Two whale wallets withdrew approximately $6.9 million worth of 龙虾 tokens from KuCoin and Gate, moving more than 11% of the total supply off exchanges.

According to an October 7 post by on-chain data platform Lookonchain, a total of 114.9 million tokens were transferred to two wallets that same day. The size of the withdrawals stood out not only for their dollar value but also for their share of the token’s total supply.

More than one-tenth of the supply moved to two wallets

The tokens withdrawn from exchanges represent 11.49% of the total supply. As a result, an amount equivalent to more than one-tenth of the supply was moved to two wallets in a single day.

The move stands out as a large quantity of this altcoin was transferred to off-exchange wallets; no details were shared about when the tokens were acquired or whether the two addresses belong to the same person.