Mint, the biggest winner among Ordi holders, held 900,000 tokens and earned US$50 million. However, Mint’s share of the overall Ordi is quite small, less than 10%. The two largest personal addresses hold 710,000 and 640,000, with costs ranging from US$6 to US$10, and have not been moved yet. The currency holding addresses have undergone tremendous changes, and chips are concentrated on exchanges. Binance and OKX will become the main battlefields. The FUD in the last two days caused 700,000 Ordi to rush into the exchange, showing faith in pulling the market and selling in panic. The investigation found that Binance began testing Ordi transfers in September, when it was only $3. This situation may also exist for other currencies. Analysis of holding addresses shows that the main battlefield has been transferred to exchanges, with the biggest winner earning 400 million yuan. The largest holding address on the exchange is Binance, followed by OKX. A large number of early Mint users have changed hands, and now there are very few earliest Ordi holders. The recent inflows into the exchange show that a large number of holders are firmly bullish when the price is pulled, and panic selling begins when the FUD is negative. The investigation also found that Binance had begun preparations before Ordi was launched. This situation is also worth considering for other currencies. $ORDI