search
Homeweb3.0REEF Token Price Plummets by 58% Before Major Sell-Off Highlights Panic Response

The cryptocurrency market saw the REEF tokens drop significantly, and the price fell by 58% in a matter of hours on October 16, 2024.

REEF Token Price Plummets by 58% Before Major Sell-Off Highlights Panic Response

The price of cryptocurrency $REEF dropped significantly on October 16, 2024. Throughout the evening, the token had plunged by 58%, wiping out gains made over the past month. This sudden price decline caused panic in the market, leading to a large sell-off of $REEF tokens.

According to Spot On Chain, three wallets (likely belonging to the same entity) sold 866,103,633 $REEF tokens for a total of $2.06 million. These tokens were sold on major cryptocurrency exchanges HTX, KuCoin, and Gate.io.

The sell-off occurred after the token's price had already fallen drastically. As a result, the entity that sold the tokens incurred a substantial realized loss of $2.53 million, having purchased the tokens at an average price of $0.005 each.

Spot On Chain data reveals that the entity initially bought 955,549,014 $REEF tokens at a total cost of $5.064 million. However, due to selling them at a lower price, they only managed to recoup $2.06 million from the sales.

After the massive sell-off, the entity now holds only 89,445,863 $REEF tokens, valued at $204,183. Notably, they are still at a loss of $269,074, which remains unrealized.

The incident highlights the sensitivity of tokens with low liquidity to large trades, which can cause significant price fluctuations. As a result, the stability of $REEF in the market may be impacted.

The above is the detailed content of REEF Token Price Plummets by 58% Before Major Sell-Off Highlights Panic Response. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Trump Family's World Liberty Financial Plans Major Token Sale Ahead of 2024 ElectionTrump Family's World Liberty Financial Plans Major Token Sale Ahead of 2024 ElectionSep 11, 2024 am 03:21 AM

The cryptocurrency project could pose significant issues if he returns to the White House, with concerns being raised about potential conflicts of interest.

Poodlana Token Sale Thrives as Cryptocurrencies Shed Billions of DollarsPoodlana Token Sale Thrives as Cryptocurrencies Shed Billions of DollarsAug 06, 2024 am 09:27 AM

Cryptocurrencies have shed billions of dollars in the past few days as investors remain concerned about Japan, US election, and technical formations.

Bitcoin and Ethereum ETFs Record Massive Fund Outflows!Bitcoin and Ethereum ETFs Record Massive Fund Outflows!Aug 30, 2024 pm 09:23 PM

Bitcoin and Ethereum ETFs have recently recorded significant fund movements, reflecting the ongoing uncertainty in the cryptocurrency market. On August 29th, record fund outflows were observed, highlighting investor nervousness amidst economic and po

Qubetics, Crudo Protocol, and Arweave: Comparing Growth Potential and Technological Advancements in the Cryptocurrency WorldQubetics, Crudo Protocol, and Arweave: Comparing Growth Potential and Technological Advancements in the Cryptocurrency WorldOct 12, 2024 am 12:32 AM

For many early cryptocurrency investors, this extraordinary gain is becoming a reality rather than a fantasy. Projects like Qubetics, Crudo Protocol, and Arweave are capturing significant attention from investors, each offering unique and compelling

Vitalik Buterin Made $2M in 24 Hours Selling Meme Tokens Donated to His ENS AddressVitalik Buterin Made $2M in 24 Hours Selling Meme Tokens Donated to His ENS AddressOct 14, 2024 am 07:06 AM

Recent onchain research by Lookonchain calculates that Vitalik Buterin accumulated 908.77 ETH, worth $2.24 million, from these sales.

Binance Coin (BNB) Price Prediction: Will the Exchange Token Recover from the Bloodbath?Binance Coin (BNB) Price Prediction: Will the Exchange Token Recover from the Bloodbath?Aug 09, 2024 pm 03:28 PM

Binance Coin [BNB] was impacted by the harsh bearish sentiment across the market. It has not initiated a recovery, and its social media sentiment remained negative.

World Liberty Finance, the Crypto Project Backed by Donald Trump, Crashed for Several Hours After It Began Selling Its Token to Accredited InvestorsWorld Liberty Finance, the Crypto Project Backed by Donald Trump, Crashed for Several Hours After It Began Selling Its Token to Accredited InvestorsOct 16, 2024 am 07:02 AM

The project could provide the former president and his family with hundreds of millions of dollars from token sales.

REEF Token Price Plummets by 58% Before Major Sell-Off Highlights Panic ResponseREEF Token Price Plummets by 58% Before Major Sell-Off Highlights Panic ResponseOct 17, 2024 am 06:24 AM

The cryptocurrency market saw the REEF tokens drop significantly, and the price fell by 58% in a matter of hours on October 16, 2024.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Repo: How To Revive Teammates
1 months agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!

ZendStudio 13.5.1 Mac

ZendStudio 13.5.1 Mac

Powerful PHP integrated development environment