#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 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 behavior has drawn attention from the community, with many people worried about losing heavily due to price manipulation by whales.
Ace Hot Topic Analysis
Analysis
Recently, a whale address 3EqUQ...xrU3s was found suspected of manipulating the SWARMS price. The whale 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% and then quickly rose by 30%, with a swing of 46.6%. This operation method is suspected of manipulating the price by using market sentiment, leading to some investors being washed out of the market during the large price fluctuations. This incident has raised concerns in the community about whale manipulation of the market, and it also reminds investors once again to be cautious when investing in digital currencies and avoid being affected by market fluctuations.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Giant whales manipulate the price by selling and buying SWARMS 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 manipulative behavior has a negative impact on the market, as it undermines market fairness and transparency.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulative behavior.