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

August 9th. Today, the significant volatility of TUT led to $36 million in liquidations within one hour, sparking discussions in the market.

According to Ashes Monitor, on-chain TUT activities are mainly attributed to market makers/whales shifting their positions among major CEXs. The recent focus has been on transfers from Binance to Bitget: over a day's span, 160 million TUT tokens (20% of the total supply) have flowed into Bitget.