$VELVET crashed hard, and these transfers are one of the first things I’d be watching closely. Price dropped from around $1.08 to $0.40, while several large $VELVET transfers were happening at the same time, including transactions close to $1M. I can’t say every transfer was a sell, but this kind of activity during a sharp drop can add pressure or potentially signal distribution. This is exactly why I keep tracking whale and exchange flows whenever a coin starts moving violently. It can reveal what’s happening beneath the price action.