In the past month, the project team of a popular token issuance platform has been very active. Just 10 hours ago, they transferred another 50 million USDC from ICO sales to Kraken. This is not a one-time transfer but a continuous large-scale movement.

Looking at the data, over the past month and a half since mid-November, the project team has transferred a total of 605 million USDC from ICO sales to Kraken. The frequency and scale of these transfers clearly send some signals to the market.

What is even more concerning is the performance of the token itself. When the project team conducted institutional ICO sales in June, the price of $PUMP was $0.004. Now, the price has dropped to $0.0018, a decline of 55%. Since the ICO price, early institutional investors have experienced significant losses, with large-scale token dumps by the project team contrasting sharply with the token's continued weakness.