Crypto News

More Price Drop For SAVM Following Conflict And Increased Outflow

SatoshiVM (SAVM) faced a tumultuous turn of events as reports of concerning wallet activity linked to the founding team circulated, causing a swift 25% drop in the cryptocurrency’s price just two days ago. The turmoil escalated due to conflicts between Ape Terminal and Macn BTC.

Following the substantial price dip, on-chain data revealed two whales purchasing more SAVM, despite incurring losses totaling $1.33 million.

Notably, 0xe939 invested 200,000 USDT to acquire 24,940 SAVM at $8.02, with an overall expenditure of 1.45 million USDT for 118,187 SAVM at an average price of $12.27, resulting in a $617,000 loss (-43%) at the current price.

Similarly, 0x0c00 spent 50,000 USDT on 7,543 SAVM at $6.63, accumulating a total of 2.1 million USDT for 193,676 SAVM at an average price of $10.84. This investment incurred a loss of $716,000 (-34%) at the current price.

Ape Terminal And Mac Gives Response To The Conflict

Ape Terminal, addressing the situation on X, expressed regret that SAVM became an exit liquidity source for Mac to fulfill personal needs. They are now focused on turning this incident into a valuable lesson for future launch selections, acknowledging the impact on their track record.

Contrary to Ape Terminal’s stance, Macn BTC, an advisor to the SatoshiVM team, asserted that he introduced Ape Terminal to the SatoshiVM team as a favor. Macn BTC clarified that the team did not snipe liquidity and refuted claims by highlighting on-chain analysts who could confirm this. He further mentioned engaging with an OTC sniper found on Twitter during the early stages.

These developments shed light on the complexities surrounding the cryptocurrency market, emphasizing the importance of due diligence and transparent communication in project launches.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: dmegiasp/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *