#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale with the alias 3EqUQ...xrU3s is suspected of manipulating the price of SWARMS. The whale dumped $2.1 million worth of SWARMS tokens at $0.2944 in 25 minutes, and then bought back 5.55 million tokens at $0.2799 six minutes ago. Due to the sell order being split into multiple transactions, while the buy order was in two large transactions, the price of SWARMS first dropped by 16.6%, then quickly rose by 30%, resulting in a swing of 46.6%. This operation is suspected to be a deliberate "wash trading" by the whale, aiming to buy more tokens at a lower price, which may cause losses for some investors.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was found to be suspected of manipulating the price of SWARMS. The account sold $2.1 million worth of SWARMS (7.15 million tokens) at an average price of $0.2944 within 25 minutes, and then bought back 5.55 million tokens at $0.2799 six minutes ago. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, the price first dropped by 16.6%, then quickly rose by 30%, with a swing of 46.6%. This operation method is considered a typical "wash trading" behavior, which aims to acquire tokens from holders at a low price by creating price fluctuations, and then profit from the price rise. It is currently unclear who the whale account is and what its purpose is, but its actions have attracted significant market attention and raised concerns about cryptocurrency market regulation.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Giant whales manipulate the market by selling and buying SWARMS in batches, creating price fluctuations.
The whale's manipulation caused the price of SWARMS to plummet and then surge rapidly, with a swing of up to 46.6%.
The whale's manipulation may have caused some investors to be washed out, resulting in losses.
The whale's price manipulation has sparked concerns and doubts about the SWARMS project in the market.