On March 23, the Bounce Brand team responded to recent concerns about AUCTION price fluctuations, stating that the team did not engage in any price manipulation activities. In the past few weeks, an unknown party has accumulated over 20% of the total AUCTION supply, with its on-chain transfer activities drawing widespread attention and significantly impacting AUCTION's price.

AUCTION trading volume surged across major exchanges - Binance spot trading volume exceeded $200 million, with AUCTION futures becoming the third-largest trading pair after BTC and ETH. Upbit spot trading volume broke through $500 million, consecutively surpassing BTC for several days. The significant price premium on Upbit led to massive AUCTION withdrawals from major exchanges for arbitrage trading.

To help stabilize market liquidity, the team has been actively providing liquidity support on multiple trading platforms. Additionally, the team voluntarily locked approximately 1.5 million AUCTION from the treasury and team allocation.