$VELVET reported at $0.91, up 126.33% in the last 24 hours, making it one of today's standout surges; however, during the same period, the project's associated addresses have transferred 22 million tokens to exchanges within 3 days, amounting to about $19.8 million at current prices, while market maker addresses have also moved out 6.68 million tokens, roughly $6 million.
This adds a layer of scrutiny to this rally: prices are rapidly climbing, yet tokens are shifting to more liquid venues. Transfers don't necessarily equate to selling, but for an asset ranked 122 by market cap with a 24-hour trading volume of $58.45 million (another metric shows $5.44 million), such significant on-chain activity is enough to impact short-term liquidity expectations. What’s more critical to watch now is not how much it has risen, but whether it can absorb this potential selling pressure after the volume spike; if subsequent trading doesn’t keep pace, volatility may continue to amplify.
This adds a layer of scrutiny to this rally: prices are rapidly climbing, yet tokens are shifting to more liquid venues. Transfers don't necessarily equate to selling, but for an asset ranked 122 by market cap with a 24-hour trading volume of $58.45 million (another metric shows $5.44 million), such significant on-chain activity is enough to impact short-term liquidity expectations. What’s more critical to watch now is not how much it has risen, but whether it can absorb this potential selling pressure after the volume spike; if subsequent trading doesn’t keep pace, volatility may continue to amplify.