A certain address has transferred out a total of 3.9 million LIT, with approximately 3 million L
Original headline某地址累计转出 390 万枚 LIT，约 300 万枚流入交易所
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A wallet cumulatively transferred out approximately 3.9 million LIT tokens worth about $12.21 million after unstaking, according to on-chain monitoring by Yu Jin (Ember) reported by TechFlow on November 2. Of the total, roughly 1.5 million LIT was deposited into exchange addresses at OKX and Bybit, while about 900,000 LIT was moved to an address tagged as belonging to Galaxy Digital. The movement of a significant LIT supply to exchanges is often read by traders as potential sell pressure, though transfers to an institutional address like Galaxy Digital could indicate an OTC deal or institutional custody rather than immediate market selling. LIT is the native token of the Litentry protocol. Watchers should monitor whether the exchange deposits translate into actual sales, any further unstaking from the same address, and Galaxy Digital's subsequent movement of the tokens.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
LIT, OKX, Bybit, Galaxy Digital (GLXY)
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