$VELVET On-chain evidence shows that during the surge, the project team and market makers worked together to sell off in bulk:
Before the pump, the project team transferred 22 million tokens (about US$19.8 million) to Bitget, Gate, and KuCoin, while the market maker DWF Labs simultaneously moved 6.68 million tokens (about US$6 million). In total, it was over US$25 million. Relevant addresses had already been holding 72 million tokens as early as March.
Starting July 10, VELVET will continuously unlock tokens for four months, and the first batch of 10.4 million low-cost tokens is about to flood in!
Before the pump, the project team transferred 22 million tokens (about US$19.8 million) to Bitget, Gate, and KuCoin, while the market maker DWF Labs simultaneously moved 6.68 million tokens (about US$6 million). In total, it was over US$25 million. Relevant addresses had already been holding 72 million tokens as early as March.
Starting July 10, VELVET will continuously unlock tokens for four months, and the first batch of 10.4 million low-cost tokens is about to flood in!
