Arthur Hayes, the co-founder of BitMEX, has recently made new moves.

On-chain data shows that he just unlocked and withdrew 12.212 million tokens from the BIO ownership contract (worth about $730,000 at the time). But the story doesn't end there—an hour ago, he directly dumped 19.872 million BIO into a major exchange, worth approximately $1.2 million based on the price at that time.

This kind of operation is actually quite sensitive in the circle. You know, when big holders transfer coins that have just been unlocked to the exchange, the market's first reaction is definitely: Are they going to sell? However, to be fair, transferring in doesn’t mean they will sell immediately; it could also be for liquidity management or other arrangements. To really understand their intentions, we need to keep an eye on how that wallet address moves next.

In short, BIO holders may need to stay alert these days.