KNC Token Chain Activity Update

Ethereum on-chain data shows a clear trend of exchange outflows for KNC recently:

**Exchange Balance Decrease**
Since December 1, net outflows of 24 million tokens have occurred, with exchange-held balances dropping from 131 million to 107 million, reflecting market participants' active token withdrawal intentions.

**Frequent Whale Activity**
In the past 60 days, 6 new wallets have withdrawn 28.3 million KNC from top-tier exchanges, including 3 belonging to top EOA addresses. These large withdrawals occurred at the $0.24 price range, involving 27% of the exchange's total supply and about 40% of the circulating supply.

These series of data changes indicate that institutions or large holders are actively positioning in KNC, and exchange liquidity is under certain pressure. The subsequent trend of exchange balances is worth monitoring.