On-chain analytics platform Bubblemaps said an address linked to the VELVET deployer transferred a large amount of tokens to centralized exchanges before the token’s sharp decline.
According to Foresight News, Bubblemaps said an address associated with the token creator received 72 million VELVET in March and later moved tokens to exchanges.
Bubblemaps reported that between June 6 and 9, the creator-linked address transferred tokens worth about $2.5 million to exchanges.
The project team has not provided an explanation for the transfers, and has described the price volatility as “speculative behavior,” Bubblemaps said.
VELVET Deployer-Linked Address Moved Tokens to Exchanges Before Price Drop, Bubblemaps Says
2026-06-16 04:16:09
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
日元回吐涨幅 日债跌势扩大
