#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 in 25 minutes at an average price of $0.2944, and then bought back 5.55 million tokens six minutes ago at $0.2799. Due to the sell order being split into multiple transactions, while the buy order was made in 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 widespread attention from the community, with many suspecting that the whale is using price manipulation to profit, potentially leading to losses for some investors.
Ace Hot Topic Analysis
Analysis
Recently, a whale address 3EqUQ...xrU3s was found to be suspected of manipulating the price of SWARMS. The whale sold $2.1 million worth of SWARMS tokens (7.15 million) 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 of SWARMS first fell 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 buy more tokens at a low price and profit by artificially raising the price. This incident has attracted widespread attention from the community, with many people worried about whether they have been affected by the whale's manipulation and calling for regulators to strengthen regulation of the cryptocurrency market to prevent such incidents from happening again.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale's large-scale sell-offs and buy-ins have caused significant price fluctuations in SWARMS, raising suspicions of price manipulation.
The whale's sell-off resulted in a 16.6% drop in the coin's price, followed by a rapid 30% surge after the buyback, resulting in a 46.6% swing.
The whale's manipulation could have led to some investors being washed out, resulting in losses.
The whale's manipulation has raised concerns about the SWARMS project and market regulation.