🩸This is INSANE

$ESPORTS token crashed -92% ($0.75-$0.06) today, wiping out over $100 million in market value.

More than $5 MILLION in long positions were liquidated in the past 12 hours alone.

What happened?

-The collapse was reportedly triggered by the ESPORTS team and VC-linked wallets on BNB Chain.

-Over 60 million tokens were unlocked from a team-controlled multisig wallet after which several connected wallets aggressively sold around 179–198 million ESPORTS tokens that's roughly 43% of the circulating supply, into liquidity pools.

-The wallets reportedly cashed out around 19,049 BNB, worth approximately $12.7M–$13.6M.

-The massive sell-off drained buy-side liquidity and sent the token price close to zero.

Another normal day in #crypto

ESPORTSUSDT

Διην.

0.0415

-2.81%