#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 tokens at $0.2799 within six minutes. Due to the sell orders being split into multiple transactions, while the buy orders were 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, with many suspecting that the whale used price manipulation tactics to profit, potentially causing some investors to be "washed out."
Ace Hot Topic Analysis
Analysis
Recently, a whale account 3EqUQ...xrU3s was found suspected of manipulating the SWARMS token price. 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%, 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 creating price fluctuations. This event has attracted widespread attention from the community, with many people worried about being manipulated by whales and suffering losses. Currently, the true identity and motives of the whale account are unclear, but this event reminds investors once again to be vigilant when investing in cryptocurrencies and avoid being affected by manipulated prices.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulate the price of SWARMS by dumping and buying in batches, causing significant price fluctuations.
Whale manipulation can lead to investor losses, as they may be forced to sell at a lower price or miss out on buying opportunities when the price rises.
This manipulation has a negative impact on the cryptocurrency market, as it undermines market confidence and fairness.
Regulators should strengthen their oversight of the cryptocurrency market to prevent similar incidents from happening again.