ChainCatcher reports that Bounce Brand responded on X platform regarding recent market price fluctuations:

"It needs to be clarified that the team has not participated in any form of price manipulation. According to team monitoring, over the past few weeks, an unknown entity has accumulated over 20% of the total AUCTION supply through continuous accumulation. These on-chain transfer activities and their resulting price impacts have attracted widespread market attention. We observed that this has produced a significant chain reaction in the market: AUCTION spot trading volume on Binance broke through $200 million, and in the futures market, it rose to become the third-largest trading pair after BTC and ETH. On Upbit, spot trading volume reached an astonishing $500 million, momentarily exceeding Bitcoin's trading scale.

Meanwhile, we noticed some unhealthy liquidity conditions in the market: on Binance, the primary price discovery market, AUCTION holdings in hot wallets have dropped to less than 10% of total supply. Lending market annual interest rates have soared to over 80%, with funding rates continuously maintaining an abnormal level of -2%. In response, multiple exchanges have adopted risk control measures such as adjusting perpetual contract position limits.

To maintain market stability, our team has taken proactive actions: on one hand, actively providing liquidity support on multiple exchanges, and on the other hand, voluntarily locking approximately 1.5 million AUCTION tokens from project inventory and team allocation."