#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 behavior has raised concerns in the community, with many questioning whether the whale account is manipulating the market using its financial advantage, potentially leading to losses for some investors during the price fluctuations.
Ace Hot Topic Analysis
Analysis
Recently, a whale named 3EqUQ...xrU3s has drawn widespread attention for its operations in the SWARMS market. The whale sold $2.1 million worth of SWARMS tokens (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 order being split into multiple transactions, while the buy order was 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 considered to be price manipulation by the whale, as it created price fluctuations by first selling and then buying back, which may have caused some investors to be washed out. Currently, it is unclear what the specific purpose of the whale's price manipulation is, but this event has raised concerns about whale manipulation in the market and reminded investors to be cautious when investing to avoid being affected by manipulated prices.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulate the price of SWARMS through a combination of dumping and buying, leading to significant price fluctuations.
Whale manipulation can lead to losses for investors, especially those who are washed out during price drops.
Whale manipulation can have a negative impact on market confidence in SWARMS.
Regulators should strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.