Whale withdraws 11% of Longxia supply from exchanges

Two wallets believed to belong to the same whale or institution withdrew 110 million Longxia from KuCoin and Gate, equal to 11% of the token’s total supply, EmberCN reported. The holdings were worth $7.01 million, and Longxia was up more than 40% today. Exchange withdrawals are typically interpreted as a move into holding wallets. Longxia means lobster in Chinese.