The sharp decline continues, BlackRock is selling off large amounts of coins again!
Just now, BlackRock transferred another 15,405 ETH and about 1,133 BTC to the exchange address, adding more than a hundred million dollars of selling pressure.
Moreover, the US-Iran war has begun to intensify again, and the coming days will not be easy.
Everyone knows I've been closely watching the on-chain data of SIGN these past few days. Why? Because that previous drop from 0.051 to 0.032 was not due to any project issues; it was purely because the exchange's inventory couldn't hold back anymore.
The net inflow over 7 days has surged 26 times, with chips flowing out like water being released from a dam. Who can withstand this?
But guess what? The data is now even "cleaner".
@SignOfficial I took a look around, and the inventory of several major exchanges is still sitting there, but not a single address from Smart Money dares to step out and catch the falling knife; on the DEX side, it's even worse, with all sell orders and the buy side as thin as a layer of window paper. In simple terms, the front-row chips are offloading, and whoever goes in will become the meat cushion.
However, to be fair, this project does have something. The on-chain identity verification of Sign Protocol, combined with TokenTable, has really achieved a distribution volume of 4 billion dollars.
More crucially, they are now penetrating into the public data and CBDC layers in the Middle East, which is aimed at national-level infrastructure, not just some hype of a "leading track."
So my conclusion is very simple: before the short-term chips are cleaned up, there’s a high probability that the old bottom at 0.023-0.025 will have to be touched again. But if you really believe in the logic of this "digital identity card," don't panic over these small fluctuations; once the chips are exchanged, what should come will naturally come.
If you can hold on, you'll be able to reap the rewards.