Claims about the Altcoin named Multichain (MULTI) listed on Binance caused the price to drop sharply.
Among these allegations, it was seen that the Multichain team was arrested by the Chinese police and the $ 1.5 billion fund was confiscated.
After these claims, there was a great decrease in the price of MULTI. MULTI, which has experienced a decrease of approximately 27%, is available at $5.11 at the time of writing.
While allegations of arrests from China lowered the price of MULTI, popular cryptocurrency analysis platform Lookonchain shared that some investors are selling MULTI.
“We noticed that some investors are selling MULTI.
An address starting with 0xb4df deposited 494,200 MULTI (worth $2.75 million) on the Gateio exchange 3 hours ago.
An investor named Hashkey also deposited 43,928 MULTI (worth $247K) on Gateio 1 hour ago.
Investor Hwg.eth also made a very smart move. And yesterday this investor sold 36,243 MULTI ($200,000 worth)."
We noticed that some investors have sold $MULTI.#MultiChain
0xb4df(maybe an investor) deposited 494,200 $ MULTI($2.75M) to #Gateio 3 hrs ago.
Hashkey deposited 43,928 $ MULTI($247K) to #Gateio 1 hr ago.
hwg.eth is very smart and sold 36,243 $MULTI ($200K) yesterday. pic.twitter.com/nBsR4aWaJt
— Lookonchain (@lookonchain) May 24, 2023
Lookonchain also wrote that the Fantom Foundation Wallet received 449,740 MULTI (worth $2.4 million) from Sushiswap 30 minutes ago and is very likely to sell.
Note that Fantom Foundation Wallet has removed 449,740 $MULTI ($2.4M) from liquidity on Sushiswap 30 mins ago.
Very likely to sell off! #MultiChain https://t.co/pEcd5EmARb pic.twitter.com/M647xgOeNH
— Lookonchain (@lookonchain) May 24, 2023
*Not investment advice.
