One token moved on both ends of the chain last night, while its shorts were still paying.
The last 12 hours were quiet onchain, except for $ORCA
>$2.4M hopped through three new wallets, about 1.7% of mcap. None of it has reached an exchange yet.
>Binance moved 3.1% of mcap from its cold wallet to its hot wallet. An exchange usually does this when it expects more withdrawals or trading in that token.
>Price is up about 19% since last evening, and ORCA is still on the short side of Squeeze Watch, with shorts paying funding.
If that $2.4M lands on an exchange, new supply arrives in the middle of a 19% run. If it stays put, the move has one less possible seller.
The last 12 hours were quiet onchain, except for $ORCA
>$2.4M hopped through three new wallets, about 1.7% of mcap. None of it has reached an exchange yet.
>Binance moved 3.1% of mcap from its cold wallet to its hot wallet. An exchange usually does this when it expects more withdrawals or trading in that token.
>Price is up about 19% since last evening, and ORCA is still on the short side of Squeeze Watch, with shorts paying funding.
If that $2.4M lands on an exchange, new supply arrives in the middle of a 19% run. If it stays put, the move has one less possible seller.
