TechFlow News: On June 14, on-chain analyst Yujin observed that, following a prior concentrated sell-off, the suspected controlling address of SIREN continued large-scale position reduction over the past 14 hours.
The relevant address has cumulatively sold approximately 201 million SIREN tokens on-chain, generating roughly $27.7 million in USDT. Of this amount, approximately $24.8 million has been progressively transferred to centralized exchanges such as Bitget and Bybit.
Data shows the SIREN holdings of the relevant address have decreased from approximately 682 million tokens to around 480 million tokens, reducing its share of total token supply from 94% to 66%.
This ongoing reduction further intensifies market concerns regarding SIREN’s token concentration and potential selling pressure. Although the identity of the relevant address and its relationship with the project team remain officially unconfirmed, its substantial holdings and rapid de-risking pace have become key focal points for market observers.
