Recently, on-chain monitoring has uncovered an interesting phenomenon. The genesis wallet of a well-known public chain project has been making frequent large transfers, and these addresses hold a significant amount of unlocked shares.

On one side, retail investors are steadily building positions in the market, while on the other side, project-related addresses are quietly transferring chips. What does this actually reflect?

According to on-chain data tracking, every movement of this whale address is accompanied by token flows in the tens of millions level. Some speculate it’s cashing out and exiting, while others believe it’s just internal fund optimization. But the key question is—do these movements indicate a shift in the project team’s attitude?

From the unlock schedule perspective, this wallet’s activity has indeed increased significantly compared to usual. Transfer frequency has accelerated, and the involved trading pairs are expanding. If before it was a slow build-up, now it seems like a rapid slicing.

For community members who hold the project’s tokens long-term, this is undoubtedly a warning sign. Monitoring the movements of internal addresses can sometimes reveal more than technical analysis. After all, the choices of large holders often represent their true judgment of the project’s prospects.