This is going to make the situation more worse since the market was opened in the middle of new phase of bearish sentiment. I am afraid we are going to see more lower prices if the trend continues few more days. Social media is full of this kind of material where people are trying to recover whatever they can at losses.
This decline was actually caused by bounty hunters who wanted to sell SVD immediately because they had been waiting for the market for a long time. and when it is opened there will be panic that makes them sell the token
A majority of Bounty Hunters probably sold, but I watched the transactions to...
IDEX:
https://etherscan.io/token/0xbdeb4b83251fb146687fa19d1c660f99411eefe3?a=0x2a0c0dbecc7e4d658f48e01e3fa353f44050c208Cobinhood:
https://etherscan.io/token/0xbdeb4b83251fb146687fa19d1c660f99411eefe3?a=0x8958618332df62af93053cb9c535e26462c959b0...the last days, especially right after listing. There have been a lot of big transactions as well.
But, that's not the big problem. The problem is a lack of interest of buyers. The buysides are very thin on all exchanges, especially on HitBTC. What I believe is likely to happen: That volume dries up and whenever a bigger guy wants or needs to sell, he has to do it over time, what brings a lot of pressure on the price for a longer time.
Is there any kind of special sign with transaction from bounty hunters addresses I didn't recognize any of them from the transactions pool. But that is reality the team implement the token lock function that is big sign of worry and that is not the professional way to handle this.