Reef (REEF), which is also listed in futures on Binance, recorded a 58% drop today. With this drop, the altcoin completely erased the entire rise it had experienced in the last month in one day.
As Bitcoinsistemi.com, we wrote about REEF on October 10, when the Alphractal analysis company warned of a possible correction in price.
According to the data, three different cryptocurrency wallets thought to belong to the same organization panicked and sent 866 million REEF tokens worth $2.07 million to the HTX, KuCoin and Gateio exchanges. With these sales, the whale wallets lost $2.53 million, or 55%.
These whales now hold only $204k worth of REEF and have a total unrealized loss of $270k.
The REEF price has fallen by 67% in the last week. The altcoin is not listed on the spot market on Binance, but is available for trading on the futures side.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/we-had-warned-massive-rising-altcoin-suffers-major-correction-whales-panic-sell/