Gate News, March 25 — Nearly seven hours of SIREN reappearing with a “market control” pattern, continuously rising over 130%. Currently trading at $2.28, with a market cap of $1.67 billion. Previously disclosed, the control of SIREN tokens far exceeded expectations, with a suspected single whale controlling about 88.5% of the circulating supply (approximately 644 million tokens worth about $1.44 billion). Among the top 54 addresses by holdings, excluding burn addresses and a certain CEX Web3 wallet, the remaining 52 addresses are said to be highly interconnected, with 48 of them recently concentrated in accumulation addresses. The other four addresses’ holdings can also be traced back to the same batch of initial positions built between late June and early July 2023. Analysis indicates that this whale has previously accumulated about 66.5% of the tokens, and combined with CEX holdings, the actual control ratio has further increased. Under the context of high market control, it is believed that they manipulate spot liquidity and conduct counterparty operations in derivatives markets to generate profits, forming a “self-directed” price mechanism. This may be the core reason behind SIREN’s approximately 30-fold surge over the past month and a half.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TradFi Fall Alert: RIOT (Riot Platforms) Falls Over 4%
Gate News: According to the latest Gate TradFi data, RIOT (Riot Platforms) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews46m ago
TradFi Rise Alert: JD (JD.com) Rises Over 2%
Gate News: According to the latest Gate TradFi data, JD (JD.com) has surged by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.
GateNews1h ago
Solana ecosystem meme coin neet market cap reaches $40 million, up 40% in 24 hours
Gate News message. On April 13, Solana ecosystem meme coin neet surged sharply today. Its market cap reached $40 million, and it is currently quoted at $0.039, with a 24-hour gain of 40%. Previously, after this token’s market cap fell below $7 million on February 12, it began to rebound, and in recent days it has continued to creep higher. Note that meme coins usually have no real use cases, and prices can swing significantly, so investors should carefully assess risks.
GateNews2h ago
RAVE breaks through $7.5, with an intraday gain of over 172%
Gate News message: April 13. RAVE breaks through $7.5, currently at $7.46, up more than 172% intraday.
GateNews2h ago
GIGGLE briefly breaks through $41, with an intraday gain of over 40%
Gate News message, April 13, market data shows that GIGGLE briefly rose and broke above the $41 threshold; it is currently trading at $40, with an intraday gain of over 40%.
GateNews2h ago
TRUMP token price drops 33%, with over 91% of the supply concentrated in the top 10 wallets
TRUMP token rose as much as 50% after its announcement of a state banquet in March, but it is currently down more than 33%. Blockchain data shows that some crypto whales have withdrawn large amounts of tokens; concentration in holdings has led to price volatility. The banquet is scheduled for April 25, and the first 297 holders have been invited.
GateNews3h ago
