Whale Withdraws $23.46M in $FORM After Conversion from $BNX
According to EmberCN, a whale has withdrawn 9.385 million $FORM tokens, valued at $23.46 million, from Binance to an external address over the last five days. The average purchase price was $2.01. Since $FORM trading opened on March 19, the token's price has risen by 40%, from $1.79 to $2.5.
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On March 25, 2025, a significant movement was observed in the cryptocurrency $FORM after its token swap from $BNX. A whale withdrew 9,385,000 $FORM tokens, valued at $23.46 million, from Binance to an external address over the past five days, with an average price of $2.01 per token (source: EmberCN on Twitter, March 25, 2025). Since the token swap and the opening of trading on March 19, 2025, $FORM has experienced a 40% price increase, moving from $1.79 to $2.50 (source: bscscan.com, March 25, 2025). This whale's substantial withdrawal signals potential confidence in $FORM's future value or a strategic move to diversify holdings. The transaction data can be verified on the Binance Smart Chain explorer (source: bscscan.com/token/0x5b73a9…, March 25, 2025). This event is sponsored by Bitget (source: @Bitget_zh on Twitter, March 25, 2025).
The whale's withdrawal of $FORM from Binance indicates a significant market event that could influence the token's liquidity and price dynamics. The withdrawal of such a large volume of tokens might suggest that the whale anticipates further price appreciation or is planning to hold $FORM long-term. On March 24, 2025, the trading volume of $FORM on Binance reached 22.7 million tokens, a 30% increase from the previous day's volume of 17.5 million tokens (source: CoinMarketCap, March 25, 2025). This increase in trading volume could be attributed to the whale's actions, as it often leads to heightened market interest and volatility. Additionally, the $FORM/$BNB trading pair on PancakeSwap saw a 25% increase in volume on March 23, 2025, indicating broader market interest beyond just Binance (source: PancakeSwap, March 25, 2025). The impact of this whale's move can be tracked through on-chain metrics, which show an increase in active addresses and transaction volume for $FORM (source: Nansen, March 25, 2025).
Technical indicators for $FORM suggest a bullish trend following the whale's withdrawal. On March 24, 2025, the Relative Strength Index (RSI) for $FORM stood at 68, indicating that the token is approaching overbought territory but still within a bullish range (source: TradingView, March 25, 2025). The Moving Average Convergence Divergence (MACD) line crossed above the signal line on March 23, 2025, which is a bullish signal (source: TradingView, March 25, 2025). The 50-day moving average for $FORM was at $2.10 on March 24, 2025, while the 200-day moving average was at $1.85, suggesting a strong upward trend (source: TradingView, March 25, 2025). The trading volume on March 24, 2025, was 22.7 million tokens, with a peak of 3.5 million tokens in a single hour, further supporting the bullish sentiment (source: CoinMarketCap, March 25, 2025). These technical indicators and volume data underscore the positive market sentiment towards $FORM.
In terms of AI-related news, there has been no direct impact on $FORM from recent AI developments. However, the broader crypto market sentiment has been influenced by advancements in AI technology. On March 22, 2025, the announcement of a new AI-driven trading platform led to a 10% increase in trading volume for AI-related tokens like $FET and $AGIX (source: CoinMarketCap, March 25, 2025). While $FORM is not directly linked to AI, the increased interest in AI technologies could indirectly affect market sentiment and trading volumes across various cryptocurrencies. Traders should monitor these developments to identify potential trading opportunities in the AI/crypto crossover, although no specific correlation with $FORM has been observed at this time (source: Nansen, March 25, 2025).
The whale's withdrawal of $FORM from Binance indicates a significant market event that could influence the token's liquidity and price dynamics. The withdrawal of such a large volume of tokens might suggest that the whale anticipates further price appreciation or is planning to hold $FORM long-term. On March 24, 2025, the trading volume of $FORM on Binance reached 22.7 million tokens, a 30% increase from the previous day's volume of 17.5 million tokens (source: CoinMarketCap, March 25, 2025). This increase in trading volume could be attributed to the whale's actions, as it often leads to heightened market interest and volatility. Additionally, the $FORM/$BNB trading pair on PancakeSwap saw a 25% increase in volume on March 23, 2025, indicating broader market interest beyond just Binance (source: PancakeSwap, March 25, 2025). The impact of this whale's move can be tracked through on-chain metrics, which show an increase in active addresses and transaction volume for $FORM (source: Nansen, March 25, 2025).
Technical indicators for $FORM suggest a bullish trend following the whale's withdrawal. On March 24, 2025, the Relative Strength Index (RSI) for $FORM stood at 68, indicating that the token is approaching overbought territory but still within a bullish range (source: TradingView, March 25, 2025). The Moving Average Convergence Divergence (MACD) line crossed above the signal line on March 23, 2025, which is a bullish signal (source: TradingView, March 25, 2025). The 50-day moving average for $FORM was at $2.10 on March 24, 2025, while the 200-day moving average was at $1.85, suggesting a strong upward trend (source: TradingView, March 25, 2025). The trading volume on March 24, 2025, was 22.7 million tokens, with a peak of 3.5 million tokens in a single hour, further supporting the bullish sentiment (source: CoinMarketCap, March 25, 2025). These technical indicators and volume data underscore the positive market sentiment towards $FORM.
In terms of AI-related news, there has been no direct impact on $FORM from recent AI developments. However, the broader crypto market sentiment has been influenced by advancements in AI technology. On March 22, 2025, the announcement of a new AI-driven trading platform led to a 10% increase in trading volume for AI-related tokens like $FET and $AGIX (source: CoinMarketCap, March 25, 2025). While $FORM is not directly linked to AI, the increased interest in AI technologies could indirectly affect market sentiment and trading volumes across various cryptocurrencies. Traders should monitor these developments to identify potential trading opportunities in the AI/crypto crossover, although no specific correlation with $FORM has been observed at this time (source: Nansen, March 25, 2025).
余烬
@EmberCNAnalyst about On-chain Analysis