Analyst: GUN high-frequency selling orders may also be caused by Launchpool big players setting up automatic selling of coins

This article is machine translated
Show original

ChainCatcher reports that blockchain data analyst @ai_9684xtpa posted on social media that the previously disclosed "high-frequency small-amount sell orders for GUN/USDT trading pair on Binance" might be a large investor setting up a bot to automatically sell tokens who participated in Launchpool.

Based on previous sell orders, the tokens worth $216,000 are sold hourly, totaling $2.592 million over 12 consecutive hours; if the large investor triggered the BNB reward pool hard cap and mined for 3 full days, they could indeed receive approximately 32 million tokens.

As previously reported, according to blockchain analyst @ai_9684xtpa's monitoring, at 3 AM yesterday, a GUN project-related address transferred 191 million GUN tokens (about 2% of total supply), which was originally intended for liquidity/market-making. Subsequently, until 8 AM today, the token has continued to show high-frequency small-amount sell orders, averaging about 10 transactions per second, with each transaction around $6, estimated to sell over $210,000 per hour.

Source
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.
Like
Add to Favorites
Comments