Whales/institutions suspected of "manipulating" AUCTION transferred 750,000 AUCTION to Binance in the past 3 hours, and AUCTION was nearly halved

03-23

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PANews reported on March 23 that according to on-chain analyst Yu Jin's monitoring, whales/institutions have transferred a total of 750,000 AUCTION tokens (worth $29.25 million) to Binance in the past 3 hours, representing 26% of the total AUCTION withdrawn from Binance. The AUCTION price dropped from $57 at 3 AM to $29 now, halving in value within 5 hours.

The whale/institution has transferred AUCTION to Binance twice after accumulating:

On 3/17, transferred 500,000 tokens to Binance, with the AUCTION price adjusting from $35 to $31;
Today, transferred 750,000 tokens to Binance, with the AUCTION price dropping from $57 to $29.

Currently, the whale/institution still holds 750,000 AUCTION tokens (worth $23.85 million) on-chain.

Yesterday's news suggested that AUCTION was pulled to a new high by a whale/institution before falling back, and this whale/institution currently holds 20% of the total token supply.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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