$LIGHT experienced a significant price decline, dropping by approximately 80% in a single morning 📉. This event appears to be the result of strategic market actions rather than organic selling.

A wallet associated with the Bitlight team reportedly moved over $6.4M worth of $LIGHT to Bitget and executed sales. Concurrently, another ~$2.4M was transferred to a secondary wallet, potentially indicating preparation for future distribution.

This activity led to a rapid collapse of the $LIGHT price within hours. A key factor in this volatility is the highly centralized supply, with approximately 90% of the total $LIGHT supply controlled by the project team. 📊

Such high centralization implies an extremely small free float and thin liquidity in the market. Consequently, the price becomes highly susceptible to manipulation, where even moderate selling pressure can trigger substantial price movements. ⚠️

A concerning aspect of this situation is the complete silence from the team. There has been no explanation, transparency, or warning provided to $LIGHT holders regarding these significant transactions. 🚫

The current market dynamics suggest a breakdown of trust and fragile liquidity. As long as team wallets maintain dominant control over circulation, $LIGHT may remain a short-biased asset on any upward bounce. This is not financial advice. 💡