KAITO Addresses Drain Exchanges for $5.22M in 24 Hours

KAITO, a digital asset, has seen addresses withdrawing funds from major exchanges. Over the past 24 hours, four new wallets have extracted a combined $5.22 million worth of KAITO tokens from Binance and Coinbase.

The latest move saw address 0x13a...C51A8 withdraw 1.98 million KAITO valued at $2.01 million from Binance just three hours ago. This follows the pattern of fresh wallets sourcing funds from major exchanges.

The price action on the 4h chart is currently sitting at $0.9, within a bearish trend defined by EMA50 resistance at $1.1 and EMA200 support at $0.9. The token tests the lower Bollinger band support at $0.91, suggesting volatility exhaustion could target the $1.29 upper band after a sustained reclaim of the 50-EMA confluence zone.