According to data from Suiscan, the wallet 0xe7cd…7a88a4 related to the Momentum team (MMT) transferred 38 million MMT ( equivalent to about 45.6 million USD) to Binance at 16:00 on November 5th (UTC+8). This token amount comes from the second largest wallet of MMT (0x1b4d2…7355c8), holding 18.57% of the total supply. From 18:41 on November 4th to 00:12 on November 5th (UTC+8), this wallet sent 89.476 million MMT to 12 other addresses, some of which continued to transfer to centralized exchanges.
After being listed on Binance at a price of 0.1 USD, the price of MMT skyrocketed to over 4.4 USD ( even reaching 10 USD on some platforms ) within 12 hours, then quickly dropped to around 0.67 USD, indicating strong volatility and the potential for profit-taking by early holders.
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