WLFI just sent $2.57M to exchanges.
Doesn't look like buying. Looks more like insiders positioning to exit while the market's busy arguing over funding rates stretched extreme in both directions.
What caught my eye: a large transfer straight from the Deployer wallet to the Merkl Distributor. That's not retail moving, that's the team quietly arranging distribution, while Binance volume spikes and Deribit open interest swings like it can't find a floor.
Funding rates this extreme usually mean one thing: a lot of people are all-in on one side, and nobody's realized they're wrong yet.
WLFI's always like this, it's never the chart that's interesting, it's who moves before everyone else notices.