#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 within 6 minutes. 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 deliberately created price fluctuations to buy low or sell high, profiting from it.
Ace Hot Topic Analysis
Analysis
Recently, a whale account 3EqUQ...xrU3s was found suspected of manipulating the SWARMS price. The account sold $2.1 million worth of SWARMS (7.15 million tokens) 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 method is considered a typical "wash trading" behavior, which aims to create price fluctuations, "wash out" investors with higher holding costs from the market, and then buy back at a lower price to profit. This incident has attracted widespread attention from the community, with many people worried that such manipulation will have a negative impact on the market and calling for regulators to strengthen regulation of the cryptocurrency market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the price of SWARMS by selling and buying 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 causing losses for investors.
The whale's manipulation exposed the lack of regulation in the cryptocurrency market, making it vulnerable to manipulation by large players.
Investors should invest in SWARMS cautiously to avoid being affected by price manipulation by whales.