Gate News message, April 17 — Over the past 4 days, four wallets have transferred a combined 12.3 billion AKE tokens to a major CEX, representing 55% of the token’s circulating supply and worth approximately $8.67 million, according to on-chain analyst Ember CN.
AKE surged to $0.00158 yesterday before retreating 65%, with the large transfers potentially contributing to the pullback. Since the tokens began flowing into the exchange, daily trading volume has increased from $2 million to $34 million.
The concentration of transfers has drawn attention to potential market dynamics, with the exchange becoming a significant liquidity hub for the token.
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