#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 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 is suspected of using price fluctuations for arbitrage, which may also lead to some investors being washed out.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The whale sold $2.1 million worth of SWARMS (7.15 million tokens) at an average price of $0.2944 within 25 minutes, causing the price to drop by 16.6%. Subsequently, the whale 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 was suspected of being intentional price manipulation, causing many investors to be washed out during the price fluctuations. This incident has raised concerns about whale manipulation of the market and reminded investors to be cautious when investing and avoid being affected by market fluctuations.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the price by selling and buying SWARMS in batches, causing significant price fluctuations.
The whale's manipulation caused the price to plummet and surge in a short period, with a swing of up to 46.6%.
The whale's manipulation could lead to significant losses for investors, especially those who were washed out during the price drop.
The whale's manipulation exposes the risks inherent in the cryptocurrency market. Investors need to invest cautiously and avoid being manipulated.