Yooldo Official Response to the 5.25 ESPORTS Sudden Crash: It Wasn’t the Project Team Dumping—The Blame Lies With the “Partner”
The team has just released a statement to clarify that the sharp drop wasn’t the result of active selling. Instead, after external OTC and market makers were brought in to provide liquidity, a certain partner carried out actions that did not comply with the agreement.
Preliminary investigations suggest that some of the selling pressure likely came from the tokens originally allocated to that partner. However, the funds have already been transferred through multiple wallets and platforms, making full traceability difficult. Previously, Ember monitoring detected that on May 25, project-related addresses dumped 253 million ESPORTS, cashing out about 17.29 million USDT. Now, this ledger is being directed toward the market-maker side.
The team’s current actions:
· Working with exchanges and relevant parties to investigate together
· Increasing liquidity support and bringing in new long-term partners
· Rolling out game updates and a token buyback plan next
Honestly, this kind of “blame the market maker” storyline isn’t new to the market. The key is whether the on-chain tracking results can be confirmed and whether the buyback can actually be carried out. Yooldo has also taken the opportunity to urge the industry—when choosing a market maker, be very cautious. Trust is the most expensive cost.
For holders, short-term sentiment recovery depends on transparency; for the medium term, it depends on whether the product and the buyback pace can hold up the market.
#ESPORTS #Yooldo #Market Maker Risk
The team has just released a statement to clarify that the sharp drop wasn’t the result of active selling. Instead, after external OTC and market makers were brought in to provide liquidity, a certain partner carried out actions that did not comply with the agreement.
Preliminary investigations suggest that some of the selling pressure likely came from the tokens originally allocated to that partner. However, the funds have already been transferred through multiple wallets and platforms, making full traceability difficult. Previously, Ember monitoring detected that on May 25, project-related addresses dumped 253 million ESPORTS, cashing out about 17.29 million USDT. Now, this ledger is being directed toward the market-maker side.
The team’s current actions:
· Working with exchanges and relevant parties to investigate together
· Increasing liquidity support and bringing in new long-term partners
· Rolling out game updates and a token buyback plan next
Honestly, this kind of “blame the market maker” storyline isn’t new to the market. The key is whether the on-chain tracking results can be confirmed and whether the buyback can actually be carried out. Yooldo has also taken the opportunity to urge the industry—when choosing a market maker, be very cautious. Trust is the most expensive cost.
For holders, short-term sentiment recovery depends on transparency; for the medium term, it depends on whether the product and the buyback pace can hold up the market.
#ESPORTS #Yooldo #Market Maker Risk