#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale account 3EqUQ...xrU3s is suspected of manipulating the price of SWARMS. The account sold $2.1 million worth of SWARMS at an average price of $0.2944 in 25 minutes, and then bought back 5.55 million SWARMS 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 operation may have caused many investors to be washed out, raising concerns about whale manipulation in the market.
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 behavior is considered typical price manipulation, as the whale created market volatility by first selling and then buying back, which may have caused some investors to be forced to sell when the price fell, while the whale could buy at a lower price when the price rebounded, thus profiting. This behavior not only harms market fairness, but also may cause losses to investors.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the price 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 causing losses for investors.
The whale's manipulation exposed the vulnerability of the cryptocurrency market to manipulation.
Regulators should strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.