{"id":44772,"date":"2025-01-07T16:07:05","date_gmt":"2025-01-07T16:07:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/swarms-token-sinks-20-after-major-exchange-listing-heres-why\/"},"modified":"2025-01-07T16:07:05","modified_gmt":"2025-01-07T16:07:05","slug":"swarms-token-sinks-20-after-major-exchange-listing-heres-why","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/swarms-token-sinks-20-after-major-exchange-listing-heres-why\/","title":{"rendered":"SWARMS token sinks 20% after major exchange listing: here\u2019s why"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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SWARMS ($SWARMS) cryptocurrency has experienced a significant price drop of nearly 20% following its listing for perpetual contract trading on Binance, one of the world’s leading cryptocurrency exchanges.<\/p>\n

This drop came despite the initial enthusiasm that saw the token briefly surpass a $600 million market capitalization earlier in the day after a 1721% surge over the past two weeks.<\/p>\n

At press time, SWARMS was trading at approximately $0.4958 after experiencing a sharp decline from a peak of $0.60, which it reached shortly after the Binance announcement.<\/p>\n

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SWARMS price chart by GeckoTerminal<\/a><\/figcaption><\/figure>\n

Why did SWARMS cryptocurrency drop despite listing on Binance?<\/h2>\n

The listing on Binance, announced just before the price drop, was expected to bolster the token’s value given the increased liquidity and exposure such listings typically bring. However, the market reacted differently.<\/p>\n

Instead of a price increase, there was a massive sell-off, with one notable transaction where a whale sold off 4.5 million $SWARMS for 9,884 $SOL, amounting to roughly $2.14 million, triggering a panic sell among smaller investors. <\/p>\n

This whale still holds a significant amount, 20.28 million $SWARMS, now valued at about $10.19 million, indicating that large holders might be taking profits or cutting losses.<\/p>\n

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\"Lookonchain\"<\/div>\n
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Lookonchain<\/span><\/div>\n
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@lookonchain<\/span><\/a><\/p>\n
\u00b7<\/span>Follow<\/a><\/div>\n<\/div>\n<\/div>\n

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After <\/span>#Binance<\/a> announced the listing of <\/span>$swarms<\/a> perpetual contracts, a whale sold 4.5M <\/span>$swarms<\/a> for 9,884 <\/span>$SOL<\/a>($2.14M).
\nThe whale currently holds 20.28M <\/span>$swarms<\/a>($10.19M).
\n<\/span>solscan.io\/account\/f1BuDD\u2026<\/a><\/p>\n

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\"Image\"<\/a><\/div>\n<\/div>\n

12:17 PM \u00b7 Jan 7, 2025<\/a><\/a><\/div>\n
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182<\/span><\/a><\/p>\n

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