A recent major move was executed by the governance contract of a certain decentralized exchange — transferring 5 million governance tokens (currently valued at approximately $30 million) to a new wallet address. This action immediately sparked various community speculations: Is it preparing to launch a staking mechanism? Or will there be other treasury operations in the future? Discussions about potential selling pressure are heating up in the market.

From a technical perspective, this token currently holds the critical support level at $5.70. As long as it does not break below this line, a rebound remains promising — once it stabilizes above $6.25, reaching $9 is not impossible. However, the current market signals are somewhat complex. On one hand, the movements of large institutions seem to be sending positive signals; on the other hand, the liquidity improvement of this trading pair on major trading platforms is also contributing to the momentum. This combination of multiple factors could either amplify upward momentum or increase uncertainty. The key now depends on how the governance tokens are ultimately handled and whether institutions will seize this window to continue their strategic positioning.