$BTW has grown by 5+ times already, but the real surprise isn’t in the chart. 🧐
Let’s look on-chain.
99.75% of the tracked supply is concentrated in a single cluster.
And BitwayOFTAdapter holds 72.92% — about 7.29B tokens.
Another 12.02%, 5.08%, and 3.42% are held by the following major connected addresses.
This is extreme concentration.
That’s why I’d be especially cautious right now about any “obvious” direction.
Do you think that $BTW is already overbought and it’s time to short?
With this kind of structure, short positions can become fuel for a new squeeze.
Do you think the rally will continue?
Then don’t forget that large shifts in the supply can trigger a sudden dump.
Here, the market can punish both sides.
So I would focus primarily on on-chain movements of large wallets, rather than trying to guess the next candle.
Let’s look on-chain.
99.75% of the tracked supply is concentrated in a single cluster.
And BitwayOFTAdapter holds 72.92% — about 7.29B tokens.
Another 12.02%, 5.08%, and 3.42% are held by the following major connected addresses.
This is extreme concentration.
That’s why I’d be especially cautious right now about any “obvious” direction.
Do you think that $BTW is already overbought and it’s time to short?
With this kind of structure, short positions can become fuel for a new squeeze.
Do you think the rally will continue?
Then don’t forget that large shifts in the supply can trigger a sudden dump.
Here, the market can punish both sides.
So I would focus primarily on on-chain movements of large wallets, rather than trying to guess the next candle.