#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 tokens (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 order being split into multiple transactions, while the buy order was close to 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 suspect that the whale is using price manipulation to profit, which may lead to some investors being trapped.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was found to be 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%, with a swing of 46.6%. This operation method is considered a typical "wash trading" behavior, which aims to acquire tokens from holders at a low price by creating price fluctuations, and then sell them at a high price to profit. This behavior not only damages market fairness but also may lead to heavy losses for investors. Currently, the true identity of the whale account is unknown, but its price manipulation behavior has attracted widespread attention.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales have been manipulating the price of SWARMS by dumping and buying in batches, causing significant price fluctuations.
Whale manipulation can lead to investor losses, especially for those who are washed out during price drops.
Whale manipulation can negatively impact the price of SWARMS and reduce investor confidence in the project.
Regulators should strengthen their oversight of the cryptocurrency market to prevent whale manipulation.