June 11, 2026·Bearish·onchain activity

$27M VELVET Wallet Moves Tokens to KuCoin, Sell-Off Feared

A wallet holding ~$27M in VELVET tokens has started transferring 400,000–600,000 tokens to new wallets, which then immediately deposit them into KuCoin. This pattern suggests a potential sell-off, raising concerns among holders about a possible price drop.

Detected & updated continuously · Source: Ruma

Mentioned

Velvet (velvet)

KuCoin (kcs)

Sources

@kieranmoris

I found something interesting about $VELVET 🩸🟥 A wallet holding around $27M worth of $VELVET has suddenly started sending 400K–600K tokens to different fresh wallets. Those wallets immediately sent the tokens to KuCoin exchange. https://t.co/KbtlCcLqaZ