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A notable development occurred in the cryptocurrency market. High-volume transactions on Fartcoin led to sharp price movements in a short period of time.
According to market data, three separate wallets funded by Binance and Bybit opened large-scale long positions totaling approximately 60 million Fartcoins (worth about $12 million) in the last two hours. It is reported that these addresses continue to increase their positions, reaching a total size of approximately $20 million, while the amount of open positions simultaneously reached an all-time high.
Analysts noted that this aggressive positioning may be linked to the same organization that carried out the short squeeze in the XPL token a few days ago. This raised the possibility of deliberate market manipulation or highly leveraged strategic trading.
However, the upward trend was short-lived. Following the opening of highly leveraged positions, it was reported that the wallets in question were liquidated, resulting in a sudden and sharp drop in the price of Fartcoin.
*This is not investment advice.
coinedition.com
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