Someone made a new wallet today and pulled $6M of JUP out of Bybit into it.
The $JUP wallet was created two hours before the withdrawal and holds just the 19.3M JUP and 1 SOL for fees. It's 0.58% of the market cap, on a day JUP is down 10%.
A brand-new wallet taking coins off an exchange during a drop usually means holding, not selling. If those 19.3M JUP go back to an exchange, that read flips. If they sit, it's one buyer who didn't wait for the bottom.
The $JUP wallet was created two hours before the withdrawal and holds just the 19.3M JUP and 1 SOL for fees. It's 0.58% of the market cap, on a day JUP is down 10%.
A brand-new wallet taking coins off an exchange during a drop usually means holding, not selling. If those 19.3M JUP go back to an exchange, that read flips. If they sit, it's one buyer who didn't wait for the bottom.