Summary
- The Falcon Finance (FF) project team was found to have moved about $13 million worth of tokens to a specific wallet.
- Of that amount, about $1 million was moved again and then deposited into an exchange.
- Onchain School said the price reacted after the token transfer and that further large-scale movements should be monitored.
Forecast Trend Report by Period
Large movements of Falcon Finance's FF token were detected, contributing to increased price volatility. Some of the tokens also appear to have been deposited to exchanges.
Onchain School, an X account that analyzes on-chain data, said on April 25 that the project team moved about $13 million worth of tokens to a specific wallet. The wallet is believed to serve as an intermediary address for further distribution to investor or fund wallets.
The transfer was the largest single movement identified so far. Of that amount, about $1 million was moved again about an hour earlier and then sent to an exchange, the account said.
Onchain School said the price reacted after the transfer and that any additional large-scale movements should be monitored.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
