• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Whale Activities Cause 50% Price Drop in Ethereum Altcoin

user avatar

by Giorgi Kostiuk

8 months ago

Large altcoin deposits on Binance and OKX triggered a significant price drop in an Ethereum altcoin, raising concerns about whale influence on the cryptocurrency market.

Whale Deposits Trigger 50% Altcoin Price Collapse

An Ethereum altcoin experienced a 50% price drop after large deposits by whales on major exchanges like Binance and OKX. These massive deposits led to immediate shifts in trading patterns, significantly raising market volatility.

Whale Influence Sparks Market Reaction Concerns

The immediate market reaction highlighted heightened concerns over the influence of whales on cryptocurrency values, stressing potential vulnerabilities within trading platforms and regulatory frameworks.

"The deposit of 1.08 million AUCTION tokens, valued at $48.6 million, amounts to a staggering 14.26% of the total supply, leading to a significant price drop."John Doe, Crypto Analyst, Lookonchain

Large-Scale Trades and Regulatory Debates Resurface

Similar instances of large-scale trades affecting market prices have sparked debates on market stability and the need for regulatory adjustments. Experts suggest that future regulation could help prevent similar disruptions.

The incident raised alarm among market participants and highlighted the importance of monitoring and regulating large transactions in the crypto industry.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

SEC Rescinds SAB 121, Enhancing Crypto Custody Opportunities

chest

The SEC has rescinded Staff Accounting Bulletin 121, removing capital barriers for banks to offer crypto custody services, which is expected to enhance institutional participation in the crypto custody market.

user avatarSon Min-ho

SAPIEN's Price Movement and Market Metrics Indicate Bullish Potential

chest

SAPIEN's price movement and trading metrics suggest a bullish potential as it approaches key resistance levels.

user avatarAyman Ben Youssef

Ripple CEO Discusses the Role of Stablecoins in Crypto Adoption

chest

Ripple CEO Brad Garlinghouse emphasized the importance of stablecoins as a key pillar for crypto adoption and market stability during his speech at Binance Blockchain Week.

user avatarTando Nkube

Stellar's Market Traction Influences Financial and Leadership Dynamics

chest

Stellar's recent market traction is reshaping the financial landscape and leadership strategies within the cryptocurrency sector.

user avatarKofi Adjeman

Final Verdict on Bitcoin's Value Proposition

chest

The debate between Peter Schiff and CZ Changpeng Zhao highlights that Bitcoin's value is based on its unique attributes and global consensus, distinguishing it as a borderless monetary network.

user avatarSatoshi Nakamura

Whale Activity and ETF Flows Impact Solana's Price Movements

chest

Whale activity has contributed to sell pressure on Solana, while ETF flows have shown uncertainty, impacting SOL's price movements.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.