An address associated with the deployer of the CHIP token deposited 7,500 CHIP, valued at $5.73 million, to the OKX exchange, signaling a potential for insider selling just as the newly launched token gains market traction.
On-chain data shows the address 0xE23…9ca05 received the tokens and transferred them to the exchange within a three-day period, a pattern flagged by on-chain analysts as a structured token movement rather than organic trading activity.
The deposit follows a period of high performance for CHIP, which saw its market capitalization reach $830 million after securing listings on major exchanges including Binance, OKX, and Upbit. The prediction market for USD.AI’s FDV to exceed $300 million post-launch had priced in a near-certainty, according to market data, driven by the exchange listing announcements.
This large transfer to a liquid venue raises concerns about market stability, exposing retail holders to potential price drops from insider-driven sales. The situation draws parallels to recent events with other tokens where team-linked wallets have systematically offloaded large positions, creating significant price volatility.
The CHIP token, a governance token for the USD.AI protocol, has been a significant entry in the decentralized AI (DeAI) sector, which saw market caps rise 30 percent to $19 billion in April 2026. However, the sustainability of its $830 million valuation depends on factors beyond its launch, including broader crypto market conditions and the project's ability to maintain momentum.
The choice of OKX as the destination is notable. The exchange, along with competitors like Bybit and Bitget, has been aggressively integrating AI tools into its operations, mandating their use for employees to improve productivity. This makes OKX a highly efficient, but also closely watched, venue for large-scale token movements.
The market will now watch to see if the 7,500 CHIP tokens are sold on the open market. A significant sell-off could dampen the token's recent rally and create a bearish narrative, similar to the 15.54 million TRUMP tokens that were systematically sent to OKX by team-linked wallets, as reported by Blockonomi. Investors will be monitoring for any strategic announcements from USD.AI or its partners that could counteract the potential negative sentiment.
This article is for informational purposes only and does not constitute investment advice.
