Is large capital shifting? Or quietly building positions?

From on-chain data, the situation is quite interesting:
An address has deposited about $200 million into exchanges successively, and recently started withdrawing funds, with approximately $38 million already withdrawn.

But what really matters is the ultimate destination of this money—
Approximately $33 million was directly used to buy 13.25 million LIT.

This proportion is not small:
- Accounts for 1.33% of the total LIT supply
- Accounts for 5.32% of the circulating supply

Currently, this wallet still holds $5.5 million.

It doesn’t look like a simple deposit and withdrawal operation; it’s more like converting cash into real chips—shifting from liquidity to control. When an address locks more than 5% of the circulating supply in a short period, the market discussion shifts from short-term price fluctuations to the question: who is gaining pricing power?

So there may be two underlying logics:
One is pre-positioning, waiting for a certain narrative to launch
Two is the opening of a new story

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