New Wallet Withdraws 10,390 QNT Worth $2.87M From Coinbase

A fresh wallet pulling a seven-figure QNT sum off an exchange is the kind of move that reads as accumulation into self-custody rather than trading flow, since there is no prior history to suggest a market-making or routing desk. The signal is limited, though: one withdrawal says nothing about intent, and exchange outflows of this size can just as easily precede over-the-counter settlement or a custody reshuffle. What matters is whether the address stays dormant or starts distributing — that, not the headline number, is the tell worth tracking.