The price of LOOM has skyrocketed by 542% in just a month. However, there's a rising trend of massive token transfers to exchanges, prominently by big players and the developer team.
A notable example saw 12.6 million LOOM, totaling $3.48 million, being transferred to Coinbase. Moreover, Upbit currently houses more than half of all circulating LOOM tokens. These activities could be preludes to a price tumble, but those considering short positions should be cautious; Upbit traders often move against general market anticipations.