That's why I keep repeating: never trust tokens that live off exchange hype, blindly.
$VELVET fell from about $0.91 to $0.15 in just a few hours. Minus 83%.
Around the same time, on-chain data showed millions of VELVET moving through wallets associated with KuCoin, Gate, Binance, and MEXC. Individual transfers were valued at roughly $500,000 to $1.9 million.
Does this prove that those transfers caused the crash? No.
But after a parabolic rise, with thin liquidity and active profit-taking, I definitely wouldn't ignore such a coincidence.
When, after a vertical pump, activity suddenly explodes that’s linked to exchanges, that’s a signal to me to protect profits—not to jump into the hype.
#VELVET
$VELVET fell from about $0.91 to $0.15 in just a few hours. Minus 83%.
Around the same time, on-chain data showed millions of VELVET moving through wallets associated with KuCoin, Gate, Binance, and MEXC. Individual transfers were valued at roughly $500,000 to $1.9 million.
Does this prove that those transfers caused the crash? No.
But after a parabolic rise, with thin liquidity and active profit-taking, I definitely wouldn't ignore such a coincidence.
When, after a vertical pump, activity suddenly explodes that’s linked to exchanges, that’s a signal to me to protect profits—not to jump into the hype.
#VELVET
