Whale extracts $2.2 million worth of KMNO in 3 days and disperses the layout. Is this bottom accumulation or a risk signal?

According to on-chain monitoring, a certain address has withdrawn KMNO worth $2.2 million from exchanges over the past 3 days and distributed it to multiple newly created wallets. This action has attracted attention because it reflects ongoing institutional interest in Solana ecosystem DeFi tokens. At the same time, this address has been accumulating other tokens such as PUMP and META, indicating a broader strategic layout.

The Logic Behind Whale Withdrawals

What does large-scale withdrawal from exchanges usually mean?

Large withdrawals of tokens from exchanges are generally seen as a bullish signal. It indicates that holders intend to hold long-term rather than trade short-term. Distributing tokens across multiple new wallets may be a risk-avoidance or strategic positioning move. According to the latest news, this address has been continuously accumulating KMNO over the past 3 months, and this large withdrawal could be a continuation of its long-term strategy.

Market signals from on-chain accumulation

Based on relevant information, this is not an isolated case. Recently, three whale/institution addresses have withdrawn a total of $15.9 million worth of Solana ecosystem DeFi tokens from exchanges, including:

• PUMP: 739 million tokens (about $13.77 million)
• CLOUD: 8.02 million tokens (about $62,100)
• KMNO: 9.06 million tokens (about $53,900)
• JTO: 1.33 million tokens (about $52,100)
• DRIFT: 3.05 million tokens (about $47,900)

This concentrated withdrawal behavior reduces selling pressure on exchanges. From a quantitative perspective, it is often seen as a bottom accumulation signal. Multiple institutions simultaneously favor Solana ecosystem DeFi tokens, indicating increasing market recognition of such projects.

KMNO’s Market Performance

Price and Market Cap Status

According to the latest data, KMNO is currently priced at $0.057123, with a market cap of $205.84 million. The project was listed on exchanges on April 30, 2024, and ranks 153rd in the cryptocurrency market cap rankings.

Recent Popularity Rise

It is worth noting that KMNO has performed countertrend in recent market movements. While the overall DeFi sector declined by 0.92%, KMNO surged by 10.39%. Additionally, KMNO has entered the CEX rankings and Meme hot list, indicating increased market enthusiasm. This heat is positively reinforced by whale activity and strategic accumulation.

Market Sentiment and Risk Considerations

Positive signals

From on-chain data, the continuous accumulation by whales is indeed a positive sign. It reflects institutional confidence in the prospects of Solana ecosystem DeFi and suggests potential price upside. The simultaneous accumulation of multiple tokens indicates this is not just hype around a single project but a recognition of the entire ecosystem.

Factors to watch

However, it should be noted that overall market sentiment remains fragile. According to relevant analysis, although BTC and ETH are rising, most altcoins are only up 1-2%, and trading volumes are actually shrinking. Market funds are diverging, with some flowing into US stocks and gold. This means that while KMNO is performing strongly, whether it can sustain this depends on confirmation from trading volume.

Personal Viewpoint

From on-chain data, this whale large-scale withdrawal appears more as a positive strategic move rather than a risk signal. Multiple institutions acting simultaneously suggest that Solana ecosystem DeFi projects are gaining institutional recognition. However, a true breakout in price still requires improved market sentiment and volume support. In the short term, KMNO may continue to benefit from increased popularity, but long-term performance depends on the project’s fundamentals and the overall market environment.

Summary

Whales withdrawing $2.2 million worth of KMNO over 3 days and distributing it across multiple wallets reflects ongoing institutional confidence in Solana ecosystem DeFi tokens. On-chain data shows this is not an isolated event but a collective action by multiple institutions, totaling $15.9 million. From a bottom accumulation perspective, this is a positive signal. KMNO’s recent market performance also confirms this, rising 10.39% against the overall decline in DeFi. However, overall market sentiment remains fragile, and trading volume is shrinking, so future focus should be on whether the price can break key resistance levels and whether market sentiment truly improves.