#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale known as "3EqUQ...xrU3s" is suspected of manipulating the price of SWARMS. The whale sold $2.1 million worth of SWARMS tokens in 25 minutes at an average price of $0.2944, and then bought back 5.55 million tokens at $0.2799 just 6 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 has attracted market attention, and many people suspect that the whale profited by manipulating the price, which may have caused some 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 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 account bought back 5.55 million SWARMS at $0.2799 six minutes ago, causing the price to surge by 30%, resulting in a total swing of 46.6%. This operation, with the sell orders split into multiple transactions and the buy orders being two large transactions, is considered a typical "wash trading" behavior, potentially trapping many investors. This incident has raised concerns about whales manipulating cryptocurrency prices and serves as a reminder for investors to be cautious and avoid becoming "韭菜" (a term for inexperienced investors).
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale has been manipulating the price of SWARMS by dumping and buying in large batches, causing significant price fluctuations.
The whale's manipulation could lead to investor losses, as they may sell at lows and buy at highs.
This manipulation has had a negative impact on the market, damaging investor confidence.
Regulators should strengthen their oversight of the cryptocurrency market to prevent similar incidents from happening again.