Power Protocol associated address moves 30 million POWER to CEX, causing a 90% token crash

BlockBeats News, March 4th, according to on-chain analyst Yu Jin monitoring, a related address of the Power Protocol transferred 30 million POWER tokens (worth $16.23 million) to Bitget and MEXC from last night to this morning, causing the POWER token (Power Protocol) to plummet by 90%: from $1.86 to $0.17.

· 30 million POWER tokens were transferred from the team's related multi-signature wallet address 0x027A...cd6c to Bitget and MEXC between 11 p.m. last night and 9 a.m. this morning: 20 million tokens to Bitget and 10 million tokens to MEXC.

· Subsequently, the POWER price started to decline, dropping from $1.86 to $0.17.