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Dragonfly Capital transferred 6 million MNT in 7 days and still holds nearly 10 million Tokens.
[Block Rhythm] Dragonfly Capital has been making significant moves recently. In the past week, this institution has transferred a total of 6 million MNT to the trading platform in batches, which is approximately 6.95 million dollars at current prices.
Interestingly, after transferring out this portion, Dragonfly Capital still holds 9.15 million MNT in several of its wallets, worth approximately 10.76 million USD. This means that the institution holds a total of over 15 million MNT, distributed on-chain and across exchanges.
Is it laying out for the subsequent market, or is it selling high? From on-chain data, this balanced position distribution usually reflects institutions cautiously testing market reactions. The next step may depend on the market direction in the coming days.