The on-chain undercurrents behind the spike and pullback! After EDEN tokens saw a surge today, dense large-amount transfers appeared on-chain, possibly indicating that a whale is liquidating at high levels.
Within the past 4 hours, EDEN moved from multiple addresses and passed through the Flowedesk hot wallet and a Binance deposit address. Ultimately, about 2 hours ago, a total of approximately 7.5M EDEN (about $534,000) was routed via a Binance hot wallet. Subsequently, the Binance hot wallet transferred a combined 10.409M EDEN (about $746,000) into Binance cold storage.
After the tokens were transferred into cold storage in bulk, immediate circulating supply on the market was reduced. However, the path that went through the hot wallet earlier does not rule out selling activity. EDEN surged today and then pulled back; in the short term, traders should watch for downside pullback risk.$EDEN
Within the past 4 hours, EDEN moved from multiple addresses and passed through the Flowedesk hot wallet and a Binance deposit address. Ultimately, about 2 hours ago, a total of approximately 7.5M EDEN (about $534,000) was routed via a Binance hot wallet. Subsequently, the Binance hot wallet transferred a combined 10.409M EDEN (about $746,000) into Binance cold storage.
After the tokens were transferred into cold storage in bulk, immediate circulating supply on the market was reduced. However, the path that went through the hot wallet earlier does not rule out selling activity. EDEN surged today and then pulled back; in the short term, traders should watch for downside pullback risk.$EDEN