WHALE $PNIT WITHDRAWALS CONTINUE

4 hours ago#Binancewithdrew 10M $Pnut ($6.1M, 1% of total supply) from the spot.

When a whale (large investor) withdraws the supply of a cryptocurrency, this can have several different effects:

Price Volatility: A large amount of a token being withdrawn from the market can often lead to sudden fluctuations in the price of that token. If the selling pressure in the market decreases, the price can increase because demand remains stable or increases while supply decreases. However, it is also important whether the whale is withdrawing for sale or for long-term storage. A move towards selling can lower the price.

Decrease in Liquidity: If a large amount of the supply is withdrawn from the market, the liquidity of that asset can decrease. This can mean less trading volume and wider bid-ask price ranges.

Market Perception: Such large transactions can create a certain perception among the community and other investors. For example, this move can be seen as a sign of trust and encourage other investors to invest in the asset, or conversely, a whale’s withdrawal can be perceived as a signal of distrust.

Manipulation Risk: When whales withdraw or sell large amounts of tokens, it can also be seen as an attempt to manipulate the market. Such moves can be made to deliberately push the price in a certain direction.

Security Concerns: When large amounts of cryptocurrency are moved from one wallet to another, the security of these transactions is also an important issue. If a security breach occurs during these transfers, serious losses can be experienced.