everybody wants to sell millions of coye for cents of btc, but nobody wants to buy.
maybe something wrong with it and nobody believes that this coin will reach exchanges...
These are normal prices after the initial price spike that will occur after coin hits exchange. They have the option of selling 2 million for 1 BTC now, or risking the 1 BTC to see the surge/fall after the coin hits exchange to 5 BTC/0.25 BTC.