Whale suddenly moves ⚠️ NOM 24-hour plunge of 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 back to the exchange, worth approximately $3.73 million.
And from last night until now, this entity has transferred a total of 1.44B NOM to exchanges, with a total value of about $7.67 million.
📉 Meanwhile, NOM has already dropped about 39% in 24 hours, and market sentiment has been clearly impacted.
💡 What does this mean for the market?
⚠️ Short-term bearish
A large amount of tokens being 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 releasing chips in a concentrated manner actually creates space for new funds to enter. Once the selling pressure is absorbed by the market, the trend may find a new balance.
🔎 My opinion
In the crypto market, what truly determines prices 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 phrase for everyone
The most frightening thing in the market is not the decline itself, but losing judgment during the decline.
Staying calm 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