XMON Token’s 95% Price Drop Due to Sudoswap Lockdrop Ending
It is reported that, according to the data disclosed by the chain analyst Lookonchain, due to the end of Sudoswap Lockdrop, 1402 XMONs were unlocked today. The…
It is reported that, according to the data disclosed by the chain analyst Lookonchain, due to the end of Sudoswap Lockdrop, 1402 XMONs were unlocked today. The price at the time of unlocking was about $34.5 million, but the current value was only about $5 million. Due to the unlocking of the token, the price of XMON dropped 95% from $24600 to the low point of $1236, of which the loss of the giant whale yfimaxi.eth reached $1.2 million. The giant whale bought 60.8 XMON at $23112, and sold 44.5 XMON at $3119 today. By locking the XMON token yfimaxi.eth, a total of 623110 SUDOs, worth about $1.2 million, were obtained.
Data: Today’s 1402 XMON unlocks are the main reason for the 95% drop in the price of tokens, and the loss of the giant whale yfimaxi.eth reached 1.2 million US dollars
Interpretation of the news:
According to Lookonchain, a chain analyst, today, the end of the Sudoswap Lockdrop caused the unlock of 1402 XMONs. This unlocking caused a significant drop in the price of the XMON token, dropping from $24600 to its lowest point of $1236, experiencing a 95% price drop. The giant whale yfimaxi.eth, who purchased 60.8 XMONs for $23112, was affected by this sudden price drop, costing them a total of $1.2 million in losses. Today, yfimaxi.eth sold 44.5 XMONs for $3119, unlocking a total of 623110 SUDOs worth approximately $1.2 million.
The data disclosed by Lookonchain highlights how the end of the Sudoswap Lockdrop has resulted in significant losses for XMON holders. The sudden drop in value signals a lack of trust in the token, as well as a potential lack of interest and demand from investors. The unlocking of tokens leads to more tokens circulating in the market, generally causing a decrease in price.
The giant whale, yfimaxi.eth, who suffered $1.2 million in losses due to the sudden price drop, highlights the risks associated with investing in cryptocurrencies. Although giant whales hold a significant amount of tokens, the sudden shift in the market can cause significant financial losses.
This sudden drop in XMON’s value may also have a larger impact on the cryptocurrency community as a whole, as it may diminish overall confidence in the cryptocurrency market. The drop in demand could cause other investors to avoid investing in cryptocurrencies, leading to overall market instability.
In conclusion, the sudden drop in XMON’s value due to the end of the Sudoswap Lockdrop has caused significant losses for large investors, such as the giant whale yfimaxi.eth. This sudden shift in the market highlights the volatility and risks associated with investing in cryptocurrencies. The cryptocurrency community must find a way to stabilize the market and rebuild trust and confidence among investors to ensure the sustainability and growth of cryptocurrencies in the future.
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