#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale named 3EqUQ...xrU3s is suspected of manipulating the price of SWARMS. The whale 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 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 behavior has attracted market attention, with many suspecting that the whale is using price manipulation to profit, and may have caused some investors to be washed out.
Ace Hot Topic Analysis
Analysis
Recently, a whale account 3EqUQ...xrU3s was found 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, 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%, then quickly rose by 30%, with a swing of 46.6%. This operation method is considered a typical "wash trading" behavior, which aims to create price fluctuations, "wash out" retail investors from the market, and then buy back tokens at a lower price. This behavior has had a huge negative impact on the market, not only damaging the interests of investors but also damaging the reputation of the entire cryptocurrency market. Currently, it is unclear who the whale account is and what its motivation is for manipulating the price, but this incident reminds investors once again that they should be cautious when investing in cryptocurrencies, not blindly follow the trend, and be wary of market manipulation.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the price of SWARMS by selling and buying in batches, causing significant price fluctuations.
The whale's manipulation led to a price drop followed by a rise, with a swing of 46.6%, potentially causing losses for some investors.
The whale's manipulation exposed the vulnerability of the cryptocurrency market to the influence of large investors.
Regulators should strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.