In the last 1 month, LOOM is already up by 542%.
Today, whales and the @loomnetwork Team started to deposit $LOOM to CEX.
Are these signals for dumping soon? Let's deep-dive into notable on-chain insights below
1/ 6 hours ago, wallet 0x07f (related to the @loomnetwork Team) deposited 7.154M $LOOM ($2.03M) to #Binace at $0.283. They are currently the top #2 holder with 204.1M ($55.03M) left.
![](https://public.bnbstatic.com/image/pgc/202310/2e311a93c603a4554c2600cb662b8ced.png)
2/ 4 hours ago, whale 0xa20 deposited all 12.626M $LOOM ($3.48M) to #coinbase at $0.275.
He accumulated this token amount at an avg price of $0.06 from Mar 3th to Aug 18th. If sold now, he will earn $2.71M (452%) profit
![](https://public.bnbstatic.com/image/pgc/202310/6e8f8d92fe503a6d58ead09f8df88036.png)
3/ Using NerdBot, we also notice that Fresh Wallets keep accumulating LOOM in recent days.
The most notable one is 0x554, who has withdrawn 15.49M LOOM ($3.83M) in the last 3D. He currently earns $245K unrealized profit.
![](https://public.bnbstatic.com/image/pgc/202310/64f977a01a0aae7dbf5535fd3c57316a.png)
4/ Another notable insight is that #upbit is currently the top #1 holder with 653M (50.25% of the circulating supply).
Moreover, they also accumulated 21.42M LOOM($5.83M) today. We need to carefully follow them because when they start to sell $LOOM, the price will be affected significantly.
![](https://public.bnbstatic.com/image/pgc/202310/28db4444be28d50119a8e94049928ae9.png)
If you are going to short LOOM at this time, you'd better watch out because #upbit often drives the price opposite to the traders' expectation.