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)."
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.
*Not investment advice.