Ok, so I think I have now figured this out. This was all a scam so people send their CXT to the developer for swapping while at the same time demand for CXT is created by new people buying CXT in order to get the new "masternode" coin. What this basically ensures is that the dev can dump CXT almost infinitely during the 7 days "swap" period while also having a decent market for the dumps.

All the rushing now makes a lot of sense as well.