Tokens from OPEN's monthly unlock just reached KuCoin. Here's the path they took. $OPEN
Today, a wallet deposited $1.23M of OPEN into KuCoin. That's about 4% of mcap.
The tokens didn't come from nowhere. They trace back to a wallet that has released exactly 9.4M OPEN every month for 11 months. That matches the community share of OPEN's monthly unlock to the token.
Each month those tokens go to a small group of addresses that take turns receiving them. Two months ago, three of those holders sent their tokens to a single new wallet.
That wallet sat on them for two months. Today it sent them to KuCoin.
Unlock, holding wallets, one wallet, exchange. Every step is onchain.
An exchange deposit isn't a sale, but it puts tokens where they can be sold. The next unlock is on October 8.
Today, a wallet deposited $1.23M of OPEN into KuCoin. That's about 4% of mcap.
The tokens didn't come from nowhere. They trace back to a wallet that has released exactly 9.4M OPEN every month for 11 months. That matches the community share of OPEN's monthly unlock to the token.
Each month those tokens go to a small group of addresses that take turns receiving them. Two months ago, three of those holders sent their tokens to a single new wallet.
That wallet sat on them for two months. Today it sent them to KuCoin.
Unlock, holding wallets, one wallet, exchange. Every step is onchain.
An exchange deposit isn't a sale, but it puts tokens where they can be sold. The next unlock is on October 8.
