28% of This Altcoin’s Supply Pulled From Exchanges in Three Days: Two Whale Wallets Stand Out

Two new whale wallets withdrew about $12.2 million worth of 龙虾 tokens from exchanges in three days, transferring an amount equal to 28% of the total supply.

On October 10, on-chain analytics platform Lookonchain reported the activity of two new wallets beginning with 0x4d28 and 0x5a42. The addresses withdrew a total of 280.75 million 龙虾 from exchanges over the past three days.

The notable detail is their share of the total supply

The value of the transfers cited in the post was $12.21 million, representing 28.08% of the token’s total supply. As a result, withdrawals to just two new addresses accounted for more than a quarter of the altcoin’s total supply.

What stood out about the activity was not only its dollar value but also the transfer of such a large share of the supply to two wallets in a short period. The transactions show withdrawals from exchanges; no information was shared about when or at what prices the tokens were purchased.