According to a report by Block Beats, on-chain analyst Yi Yi reviewed the activities of a major WLFI token holder who transferred approximately 79.54 million WLFI tokens to nine different addresses within the past 18 hours. The total value of these tokens is around $14.69 million. One of the recipient addresses, moonmanifestphilanthropy.eth, made a small sale a few days ago; however, no sales have been reported from any of the current recipient addresses so far. The largest holder, associated with the address moonmanifest.eth, owns about one percent of the total WLFI tokens. During the Token Generation Event (TGE), 200 million tokens were issued. This address is believed to be linked to Techno Revenant, a key participant in the XPL hedging event. WLFI is a cryptocurrency token establishing its presence across various blockchain networks. Activities in the market and movements by major holders are significant for investors as they can influence market fluctuations and potential price directions. The large-scale distribution of tokens may indicate that the holder is diversifying their position or attempting to improve liquidity. However, since the recipient addresses have not sold the tokens yet, it is likely that these funds are being held for long-term investment or other network activities. Investors are advised to monitor such large transactions closely as they may signal important changes in market trends.
Source: binance
