#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale address 3EqUQ...xrU3s was found suspected of manipulating the price of SWARMS. The whale 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 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% and then quickly rose by 30%, resulting in a swing of 46.6%. This operation may have caused some investors to be washed out, raising concerns about whale manipulation of the price in the market.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account sold 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, causing the price to surge by 30%, with a swing of 46.6%. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, this operation is considered a typical "wash trading" behavior, aiming to "wash out" retail investors from the market by creating price fluctuations and then buying at a lower price. This incident has attracted widespread attention from the community, with many questioning whether the whale's actions constitute market manipulation and worrying about its impact on the SWARMS ecosystem.
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.
This behavior of giant whales could lead to investor losses, as they may be forced to sell when prices fall or miss out on buying opportunities when prices rise.
This behavior could damage market confidence and lead to investors losing trust in the cryptocurrency market.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulative behavior.