Behind TUT's Significant Volatility, 20% of the Total Supply Transferred from Binance to Bitget

BlockBeats News, August 9th. Today, the significant fluctuation of TUT has led to $36 million in liquidations within 1 hour, sparking discussions in the market. The coin has seen a 24-hour on-chain spot trading volume of $570 million and a derivatives trading volume of $2.5 billion.

According to Ashes Analytics, on-chain TUT transactions are mainly dominated by market makers/whales transferring assets between major centralized exchanges (CEX). The recent movement has primarily involved transfers from Binance to Bitget: over a little more than a day, 160 million TUT tokens (20% of the total supply) have flowed into Bitget.