68 million HOLO mysterious large transfer: anonymous address multi-layer relay, what signals are hidden behind it?

Based on on-chain data, around 15:00 today, a total of 68.1162 million HOLO tokens (worth approximately $5.4185 million) were transferred across multiple anonymous addresses. This transfer employed a relay strategy, moving from one anonymous address to another, then through a third anonymous address. Amid HOLO’s recent attention due to AI concepts and a small coin frenzy, with market enthusiasm continuing to rise, this large transfer has attracted market attention.

Technical Features of On-Chain Transfers

Multi-layer relays demonstrate caution

A notable feature of this transfer is the use of a multi-layer relay strategy. According to data, HOLO was first transferred from address Bnbdf2G… to 457vAia…, then from 457vAia… to EK9opNF… Such operations are not uncommon in large on-chain transfers and typically reflect several intentions of the holder:

• Enhancing privacy protection and breaking direct on-chain traceability
• Dispersing transfer risk to avoid market disturbances from large single transactions
• Reserving operational space for subsequent actions, maintaining flexibility

Market implications of transfer scale

The transfer of $5.4185 million accounts for about 17% of HOLO’s market cap, which is only $32.15 million. This indicates the holder’s high regard for this asset and may also imply potential significant subsequent operations.

HOLO’s Market Background

Rising popularity of emerging projects

HOLO was listed for trading on September 8, 2025, less than four months ago. Recently, it has gained market attention due to AI concepts and a small coin frenzy, with a 7-day increase of 20.50%, and has been mentioned in multiple market analyses. Currently, the circulating supply is 404.79 million tokens, with a total supply of 2.048 billion tokens, and a circulation rate of only 19.77%.

Upcoming token unlock pressure

According to the latest information, HOLO will undergo a token unlock on January 11, with an unlock volume of 41.77 million tokens, accounting for 2.04% of the current market cap. This is a risk factor to watch. Previously, during the October 11, 2025 unlock of 109.9 million tokens, the price dropped from $0.1309 to $0.1291.

Potential Market Impact

Multi-dimensional interpretation of signals

This large transfer may reflect:

• Institutions or major holders preparing for the upcoming unlock event
• Holders adjusting asset allocations and laying the groundwork for future operations
• Market participants transferring assets to capitalize on current hype

Objective assessment of market risks

From a market perspective, this transfer occurred precisely during a period of high enthusiasm for HOLO and imminent token unlocks. While the specific purpose of the transfer cannot be confirmed, such large anonymous operations are often closely watched by market participants and may serve as a reference signal for subsequent price fluctuations.

Summary

This transfer of 68 million HOLO tokens via anonymous addresses and multi-layer relays, against the backdrop of rising market enthusiasm and unlocking pressures, warrants investor vigilance. Although on-chain transfers alone cannot directly determine market direction, considering HOLO’s recent market performance, upcoming token unlocks, and the cautious attitude of holders, the market should prepare for risks. For HOLO participants, paying attention to subsequent market dynamics and unlock outcomes will be more rational than simply chasing high prices.