#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account sold $2.1 million worth of SWARMS at an average price of $0.2944 within 25 minutes, and then bought back 5.55 million SWARMS at $0.2799 within 6 minutes. Due to the sell orders being split into multiple transactions, while the buy orders were executed in two large transactions, the price first dropped by 16.6% and then quickly rose by 30%, resulting in a swing of 46.6%. This operation is considered a typical price manipulation behavior, which may have caused many investors to be washed out.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account dumped 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 within 25 minutes, causing the price to drop by 16.6%. Subsequently, the account bought back 5.55 million SWARMS at $0.2799 six minutes ago, resulting in a rapid price surge of 30% and a swing of 46.6%. This operation, with sell orders split into multiple transactions and buy orders concentrated in two large transactions, is considered a typical price manipulation behavior. This incident has attracted widespread attention from the community, with many people worried about being washed out and others questioning whether this behavior is illegal. Currently, no official agency has investigated or issued a statement on this incident.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the market by selling and buying SWARMS in batches, causing significant price fluctuations.
The whale's manipulation caused the price to drop and then rise, with a swing of 46.6%, potentially causing losses for investors.
The whale's manipulation exposed the vulnerability of the cryptocurrency market to manipulation by large players.
Regulators need to strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.