Noticed something interesting. A couple of 8-figure wallets are quietly rotating altcoins straight into PAXG instead of moving to USDC first. That’s usually not random behaviour.

If they only wanted to sit out, stables would make more sense. Choosing tokenised gold suggests they want lower volatility without fully leaving the market.

Doesn’t look like panic either, exits were gradual. Feels more like hedging ahead of potential turbulence than abandoning risk. Worth watching if you track smart money flows.

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