#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 (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% and then quickly rose by 30%, resulting in a swing of 46.6%. This behavior has attracted market attention, and many people are worried about losing heavily due to price manipulation by whales.
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 tokens (7.15 million) at an average price of $0.2944 in the past 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 is considered a typical "wash trading" behavior, intending to accumulate more tokens at a low price and profit by raising the price. This incident has raised concerns about whale manipulation of prices in the market, and also reminds investors to be cautious when investing and avoid being affected by such behavior.
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 leading to some investors being washed out.
The whale's manipulation has had a negative impact on the market, harming investors' interests.
Regulators should strengthen their oversight of the cryptocurrency market to prevent similar incidents from happening again.