We Had Warned: Massive Rising Altcoin Suffers Major Correction, Whales Panic Sell

Bitget App

Trade smarter

Bitcoinsistemi2024/10/16 17:12

By:Mete Demiralp

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.

We Had Warned: Massive Rising Altcoin Suffers Major Correction, Whales Panic Sell image 0

We Had Warned: Massive Rising Altcoin Suffers Major Correction, Whales Panic Sell image 1

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.

Related News Analysts Give “Correction Warning” For Altcoin, Which Soared 1200 Percent In The Last One Month

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.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: Honda is working with Sierra Space and Tec-Masters, two space technology companies, to try their high-differential pressure water electrolysis system. Honda aims for hydrogen to help it get all of its cars off carbon by 2040. Honda says it will work with NASA to get the equipment to the ISS on Sierra Space’s Dream Chaser space plane.

Cryptopolitan•2025/04/04 19:12

ETH just had lowest quarterly return since Q2 2022: Blockworks Research

The network is at a “pivotal juncture,” Blockworks Research’s Marc-Thomas Arjoon said

Blockworks•2025/04/04 18:22