RIVER has experienced a significant downturn, dropping over 4% in the last 24 hours after hitting a new all-time high. This decline comes on the heels of a substantial rally that saw the cryptocurrency surge by approximately 1,500-1,900 over the past month, and the material draws attention to the fact that such volatility is not uncommon in the crypto market.
Recent Price Drop and Market Struggles
The recent price drop occurred shortly after RIVER briefly surpassed the 80 mark, indicating a struggle to maintain its elevated levels. On-chain data reveals a troubling supply concentration, with a staggering 69% of the BNB Chain supply controlled by a single wallet, raising concerns about potential market manipulation.
Decrease in Trading Volume
Furthermore, RIVER's trading volume has seen a notable decrease of around 23% in the last day, prompting questions about the overall stability of the market. Investors and analysts alike are closely monitoring these developments as they could signal a shift in market dynamics.
While RIVER faces a significant downturn, HBAR is currently grappling with its own challenges that could hinder its growth. For more details on HBAR's situation, see more.
