As the curtains closed on the previous year, Bounce Token ($AUCTION) celebrated a bullish run. However, the momentum appears to have waned, with the token encountering challenges in maintaining its upward trajectory.
Recent market activity reflects a significant decline for Bounce Token, with losses amounting to 32% over the last 7 days and an additional 13% in the past 24 hours. The token, which once reached a high of $23, has retraced to a low of $18 and is currently trading at $19.
Insights from Scopescan indicate that DWFLabs executed a substantial deposit of 145.7K $AUCTION (equivalent to $3.75 million) into Binance. Notably, this transaction coincided with a 10% drop in $AUCTION value.
DWFLabs’ accumulation of $AUCTION from various Centralized Exchanges (CEXs) has been ongoing for the past three months, potentially setting the stage for a profit of approximately $2.18 million if all tokens are sold.
23 hours ago, #DWFLabs deposited 145.7K $AUCTION ($3.75M) into #Binance, after which $AUCTION dropped 10%.
DWF Labs has been accumulating $AUCTION from CEXs for the past 3 months. If DWF Labs sells all tokens, they will profit ~$2.18M.
moneyflow:https://t.co/qbJFA9jexq pic.twitter.com/ZhI8cAIWg2
— Scopescan (@0xScopescan) January 7, 2024
Further Sell Pressure By This $AUCTION Whale
Furthermore, another investor reportedly placed 54,437 $AUCTION into Binance. Known as Smart Money, this investor, having achieved a 77% profit through $AUCTION, received tokens for participating in Bounce Finance’s latest project.
As per Chain Analysis Analyst @ai_9684xtpa, these tokens were moved from Binance to a specified address between November 29, 2023, and December 18, 2023, at an average cost of $21.56 (current pricing at $19.09). If all tokens are liquidated, there is a potential $134,000 loss.
「通过 AUCTION 获利 77%」聪明钱刚收到参与 Bounce Finance 打新的代币，就将 54,437 枚 AUCTION 充值进 #Binance（价值 105 万美金）
这些代币是该地址在 2023.11.29-12.18 期间从币安转入的，平均成本为 $21.56（现价 $19.09），若全部卖出将亏损 13.4 万美金
是觉得金铲子失效了，打算卖掉吗🥹 https://t.co/3Azw5cPxaL
— Ai 姨 (@ai_9684xtpa) January 8, 2024
The intricacies of whale transactions and investor activities underscore the dynamic nature of the cryptocurrency market. Bounce Token’s journey in regaining momentum will be closely watched, as market participants navigate these fluctuations in pursuit of profitable opportunities.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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Image Source: maximusnd/123RF // Image Effects by Colorcinch
