An on-chain large transfer from a project team has taken place.

Within the past 30 minutes, the zkPass team’s multi-signature address (0xEF1) transferred approximately 10 million ZKP tokens to an exchange, worth approximately 7.961 million dollars (about $796.1k).
From the circulation structure, this transfer is about 3.73% of ZKP’s current circulating supply (approximately 268 million tokens), representing a relatively notable concentration release.
Currently, ZKP is priced at approximately $0.07964, with a 24-hour decline of about 7.35%, and a circulating market cap of roughly $21.37 million.
On-chain transfers like this from a team multi-signature address are often viewed by the market as an important signal of a supply change, but the specific purpose still needs to be determined based on subsequent on-chain behavior.
What the market is most sensitive to is often not the price itself, but the “way new supply appears.”
What truly affects the trend is not just volatility, but changes in the underlying liquidity.