The Top 10 richest address are moving their coins. So, these aren't panic sellers..
do you have proof mate?
https://chainz.cryptoid.info/xc/#!rich
Top 10 went from 31% to 28% in the last 3 days.
Mintpal is one of those top 10 wallets, 4 days ago "problems" with withdrawing funds from mintpal (causing even more panic than before , even thou i don't think its possible for more panic)
Most likely seeing mintpal funds being withdrawn in mass panic over last few days
Edit : also where is this going from 31% down to 28% in last 3 days?
Currently top 10 wallets apparently hold 30.80% ..............
That would be because a new top 10 showed up at #3 with 200k coins today=) whales accumulating