$279 million, more than 130 tokens, all converted into ETH and USDC.
The hacker who attacked Binance is liquidating, and the approach is straightforward: price doesn't matter, only converting into major assets. Selling pressure of this scale will inevitably reshape the short-term token holder structure.
$ETH is the main counterparty for these funds. Keep an eye on key levels and see whether it can absorb the entire volume from this rotation—if it can, the structure holds; if not, the next support level will need to be tested again.
Large-scale asset rotations are never the end point; they're the starting point for repricing. At what level are you ready to buy in? $BTC #Breaking
The above is only my personal observation of the market and does not constitute investment advice. Invest at your own risk.
The hacker who attacked Binance is liquidating, and the approach is straightforward: price doesn't matter, only converting into major assets. Selling pressure of this scale will inevitably reshape the short-term token holder structure.
$ETH is the main counterparty for these funds. Keep an eye on key levels and see whether it can absorb the entire volume from this rotation—if it can, the structure holds; if not, the next support level will need to be tested again.
Large-scale asset rotations are never the end point; they're the starting point for repricing. At what level are you ready to buy in? $BTC #Breaking
The above is only my personal observation of the market and does not constitute investment advice. Invest at your own risk.
