Giant whale suddenly moves ⚠️ NOM 24-hour plunge nearly 40%, what happened behind the scenes?

On-chain data shows that in the past 30 minutes, a whale/institution controlling about 59% of NOM's circulating supply transferred 768 million NOM to an exchange again, worth about 3.73 million USD.
And from last night until now, this entity has transferred a total of 1.442 billion NOM to exchanges, with a total value of about 7.67 million USD.
📉 Meanwhile, NOM has already dropped about 39% within 24 hours, and market sentiment has been clearly impacted.
💡 What does this mean for the market?
⚠️ Short-term bearish
A large amount of tokens transferred to exchanges usually indicates increased potential selling pressure, which can trigger market panic and amplify price volatility.
📈 But there is also another possibility
Sometimes whales release chips in a concentrated manner, which can actually create space for new funds to enter. Once the selling pressure is absorbed by the market, the trend may also find a new balance.
🔎 My opinion
In the crypto market, what truly determines the price is not news, but the chip structure.
When whales start moving funds, it often means the market is entering a new phase.
✨ Here's a word for everyone
The most frightening thing in the market is not the decline itself, but losing judgment during the decline.
Stay calm; it is more important than blindly panicking. 🚀#Gate上线Pre-IPOs #美伊停火协议谈判再生变故 #Canary提交现货PEPEET申请 #Meta推出AI模型MuseSpark $BAS