YGG Treasury-related address suddenly transferred 40 million tokens to a major exchange, equivalent to $2.65 million. This move instantly caused a stir in the market, and many began to worry whether it would trigger a decline. But things are not that simple — what is really happening behind the scenes needs to be analyzed from several perspectives.

【Market Sentiment Analysis】

The key information is as follows: the address marked as "0xE040" deposited 40 million YGG tokens into an exchange. This is not a one-time action but a continuous transfer over the past five months. More importantly, the source of these tokens can be traced back to the YGG project's treasury and multi-signature wallets.

In other words, this is the project team or its affiliated entities gradually cashing out, rather than ordinary retail investors selling off. A large amount of tokens flowing into the exchange will inevitably increase selling pressure. In the current market sentiment, which is already prone to volatility, this "open operation" can easily trigger panic reactions, leading to a price decline.

【Technical Analysis】

Looking at Bollinger Bands, the price is currently near the middle band, with the distance between the upper and lower bands indicating the short-term volatility range. In this situation, the psychological impact of large transfers often outweighs the technical signals themselves in determining the trend. The key is whether the price can hold the support level; if it breaks below the middle band… well, at this point, attention should turn to the next line of defense.

Overall, the data is clear, and how to proceed next depends on your own judgment.