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Developer Wallet Swaps SOL for $88022 Tokens, Potential Sell-Off Risk | Flash News Detail | Blockchain.News
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7/1/2024 7:31:34 AM

Developer Wallet Swaps SOL for $88022 Tokens, Potential Sell-Off Risk

Developer Wallet Swaps SOL for $88022 Tokens, Potential Sell-Off Risk

According to @OnchainDataNerd, a developer wallet recently swapped 150 SOL (approximately $22.1k) for 98 billion $88022 tokens. Subsequently, the developer distributed the tokens across 109 wallets, each containing 890 million tokens. Despite the liquidity being locked, there is a significant risk of selling pressure from the team, potentially driving the token's price down.

Source

The Data Nerd

@OnchainDataNerd

The Data Nerd (On a mission to make onchain data digestible)