Many Kaspa influencers have remained optimistic about the Kaspa coin, even during times when the price hasn’t performed as bullishly as anticipated. One of the most vocal supporters of Kaspa (KAS) is Jim, also known as S𐤊i ₿um, who has garnered over 16,000 followers on X.
However, yesterday, Jim appeared concerned by some unexpected metrics, leading him to believe that the price might be on the verge of a significant drop.
According to the crypto analyst, a substantial amount of KAS tokens have been withdrawn from the MEXC and GATE exchanges. These movements are noteworthy as these two exchanges currently hold the largest amounts of the token.
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The chart shared by the analyst indicates that over 58 million Kaspa tokens have been withdrawn from these platforms. Specifically, more than 26 million tokens were taken out of MEXC, while over 32 million tokens were withdrawn from Gate.io.
Despite the fact that these exchanges still hold a significant amount of KAS, the analyst suggests that it might be a good time for Kaspa holders to consider selling. He advises: “withdraw your $KAS.”
Kaspa Price Remains Resilient
Despite the call to sell, Kaspa’s price has remained strong, experiencing a more than 50% increase in the past week. This could be attributed to the overall positive sentiment in the cryptocurrency market.
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Source: captainaltcoin.com