We Had Warned: Massive Rising Altcoin Suffers Major Correction, Whales Panic Sell
An analysis company had recently warned of a serious correction regarding the altcoin, which had experienced a major rise.
Reef (REEF), which is also listed in futures on Binance, recorded a 58% drop today. With this drop, the altcoin completely erased the entire rise it had experienced in the last month in one day.
Graph showing the change in REEF price in the last month.
As Bitcoinsistemi.com, we wrote about REEF on October 10, when the Alphractal analysis company warned of a possible correction in price.
According to the data, three different cryptocurrency wallets thought to belong to the same organization panicked and sent 866 million REEF tokens worth $2.07 million to the HTX, KuCoin and Gateio exchanges. With these sales, the whale wallets lost $2.53 million, or 55%.
These whales now hold only $204k worth of REEF and have a total unrealized loss of $270k.
The REEF price has fallen by 67% in the last week. The altcoin is not listed on the spot market on Binance, but is available for trading on the futures side.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now
Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.
Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral
Share link:In this post: Trump’s economic and diplomatic tensions took over the spotlight at Pope Francis’ funeral. Trump met briefly with Zelenskyy, Macron, and Starmer during the service but made little progress. Trump skipped a second meeting with Zelenskyy and left Rome quickly after the Mass.
Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission
Share link:In this post: Elon Musk called OpenAI restructuring plan the “scam of the century” after experts oppose it. Legal and AI experts have called on Attorneys General of Delaware and California to OpenAI core mission as a non-profit. Concerns about Open AI deviating from its non-profit origins is not limited to Musk.
Republicans propose shutting down US audit regulator PCAOB
Share link:In this post: Republicans plan to scrap the Public Company Accounting Oversight Board (PCAOB). The agency’s responsibilities could be pushed to the SEC if the lawmakers succeed in shutting it down. Republicans also want to pass a major tax bill that could change the non-profit sector.
Trending news
MoreCrypto prices
More
