There was an interesting on-chain movement on January 8th. An analyst detected that an address transferred 18 million "Binance Life" tokens to a major exchange 10 hours ago, with a total value of $2,496,000. The purchase price at the time was $0.1386.

Let's take a look at the story of this holder — they started entering the market on October 7, 2024, right at a high point in the token's price. They continued to buy more until November 18, with an average cost of about $0.171. Now, suddenly depositing such a large amount—if they really intend to sell, it complicates the calculation—selling at the current price would result in a loss of $581,000.

The trend of this token indeed explains a lot. From a peak market cap of $522 million down to a low of $82.59 million, the rollercoaster of investor sentiment is evident. Whenever large transfers occur, the market starts to wonder if someone is trying to dump, which highlights the value of on-chain monitoring.