Market Manipulation Allegations Arise Amidst these troubling developments, voices within the crypto community are suggesting that the market turbulence may not be coincidental. Experts like Marty Party have expressed concerns about the role of Binance, asserting that the exchange may have offloaded its holdings in Solana and Ethereum to cover fines imposed by the Department of Justice (DOJ) while also profiting from liquidating leveraged futures positions.
Critics argue that these "market maneuvers” are indicative of a broader pattern of manipulation, particularly aimed at triggering mass liquidations among long positions. Related Reading: Ethereum Price Crash To $2,000 Could Happen As Smaller Timeframes Turn Bearish Doctor Profit remarked on the apparent transparency of these manipulations, suggesting that market players are exploiting the naivety of average crypto investors.
Ethereum Falls Below $2,600: Potential End To Altseason Over the past few days, on-chain data has surfaced, indicating large-scale selling of Ethereum and Solana tokens primarily by Binance (BNB), the world’s largest cryptocurrency exchange. Market expert Crypto Rover highlighted that these sales, which occurred over a span of just 48 hours, have contributed to a staggering 7% drop in Ethereum and a 12% decline in Solana’s value.
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