COINOTAG News on August 31 cited on-chain analytics provider Embermonitor, reporting that an institutional whale transferred an additional 3 million FORM (approximately $9.87 million) to Binance about ten minutes before publication; the same wallet had moved 8 million FORM (roughly $29.8 million) to the exchange two days earlier. Concurrently, the FORM spot price declined by 22%, sliding from $4.04 at 4:00 PM to $3.14 at the time of the report. These verified exchange inflows and the documented price movement underscore the importance of monitoring on-chain flows and exchange order-book liquidity when assessing immediate market impact.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024