#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 in 6 minutes at $0.2799. Due to the sell orders being split into multiple transactions, while the buy orders were concentrated 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 operation is suspected of using price fluctuations for arbitrage, which may have led to some investors being washed out.
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 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 within 25 minutes, causing the price to drop by 16.6%. Subsequently, the account bought back 5.55 million SWARMS at $0.2799 six minutes ago, causing the price to quickly rise by 30%, with a swing of 46.6%. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, this operation is considered a typical "wash trading" behavior, aiming to profit from price fluctuations and potentially trapping some investors. This incident has raised concerns about whales manipulating cryptocurrency prices and reminds investors to be cautious when investing in cryptocurrencies, avoiding blindly following the trend and paying attention to risk control.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Giant whales manipulate the market by selling and buying SWARMS in batches, creating price fluctuations.
The whale's manipulation caused the price of SWARMS to plummet and then rebound sharply, with a swing of up to 46.6%.
The whale's manipulation may have caused some investors to be washed out, resulting in losses.
The whale's manipulation has raised concerns about the price stability of SWARMS.