News Will Izuchukwu March 24, 2025
There was a big change in the $AUCTION token market over the weekend, as suspected dealers sent 1.66 million AUCTION tokens to exchanges from seven different addresses.
This put 25.18% of the total circulating supply of the token on the market, for an estimated value of $65.08 million. As you might guess, the impact on the price of AUCTION wasn’t good. It had just about halved from where it was before the weekend when we checked this morning.
From the moment these tokens first began trading on the exchanges at 03:18 this morning, the value of AUCTION has plummeted from $56.38 to a mere $27.75—definitely a significant drop. What has everyone worried, though, is that we have seen such a substantial amount of these tokens hitting the market that you can only conclude we are seeing a major sell-off.
大型浇给现场💦 —— 过去 10 小时,疑似 $AUCTION 庄家已通过 7 个地址累计向交易所充值 166 万枚代币,占代币流通供应总量的 25.18%,价值 6508 万美元
距离这几个地址今天 03:18 首次向交易所转移代币,AUCTION 币价已腰斩($56.38 > $27.75)🩸
🔸 其中三个地址的资金来源均为过去一个月从 #Binance… pic.twitter.com/28rOSFezkq
— Ai 姨 (@ai_9684xtpa) March 23, 2025
Three of the seven addresses believed to be behind the influx of AUCTION tokens into Binance have withdrawn those tokens from the exchange just recently, but they used the same three addresses to send a large amount of AUCTION tokens back to Binance after the price had already spiked. When the trio of addresses sent the tokens back to Binance, they did it in such a way that it looks like they rigged the price of the tokens. The also did it in such a way that they profited off of the price rigging by a margin that they attained using a price fluctuation that they themselves seemed to set off.
The last four places that were interested in recharging the tokens got their funding directly from the multi-signature wallet of the Bounce Finance project. They sent the tokens to many different exchanges, including big ones like OKX, Gate, and Binance, and did so at a price of $55.93 per token. However, these three monolithic exchanges (and a few others that do not have a reputation as top-tier houses) were told by their users not to send their tokens back into the system (i.e., the DeFi system). This is because the price was about to drop massively.
Following the abrupt decrease in price, the AUCTION project team acted quickly to stabilize the market. They made the decision to lock a good-sized portion of their token supply under the auspices of Team Finance, and we do mean a good-sized portion. About four hours ago, two multi-sig wallets from Bounce Finance sent over to Team Finance a total of 1.55 million AUCTION tokens, which will now be under wraps until September 1, 2025. That is approximately 23.5% of the circulating supply. By our reckoning, it is more than twice the amount (in USD) that the Tornado Cash team recently locked up.
轰轰烈烈跌了一天,AUCTION 项目方倒是又去锁币了,打个巴掌再给颗枣?🤣
四小时前,两个 Bounce Finance 多签地址将共计 155 万枚 AUCTION 存入 Team Finance 并锁定(占流通代币的 23.5%),折合约 3,773 万美元,锁定至 2025.09.01
钱包地址https://t.co/1OY8Vt6rz2https://t.co/hA6prnQsH8… https://t.co/DFB74TrEP4 pic.twitter.com/HJ3boveJlW
— Ai 姨 (@ai_9684xtpa) March 23, 2025
Locking up the tokens until September 2025 clearly serves to reassure investors. They are trying to stabilize the market. They have taken a significant amount of AUCTION tokens out of circulation. They need to do this to combat the oversupply of AUCTION tokens that has been flooding the market in recent days. They expect that these actions will reduce the downward pressure on the price of the AUCTION token, although ultimately it is unclear if their actions will be effective.
Much work has gone into trying to stop the bleeding, but that hasn’t kept many market observers from questioning whether the latest intervention amounts to “a slap in the face followed by a jujube,” as some have sarcastically put it. Success in regaining confidence in AUCTION’s long-term prospects pretty much has to happen for any of this to be considered successful. If the market can’t regain confidence, many will see this latest intervention, like the last couple of interventions, as merely buying time.
The recent market behavior of AUCTION has led to general alarm about the token’s future. The project team has done much to counter this volatility. Yet the price has taken a nosedive, and suspected dealers seem to be reinflating the token by putting it back on exchanges. If all this keeps going, we might be in for a phase of instability with the AUCTION token.
At present, the market appears to be unsure. The reintroduction to exchanges of such a large amount of tokens, in tandem with the project team’s attempts to lock up so much of the circulating supply, emphasizes the struggle just beneath the surface to maintain control over the token’s value. Whether these are effective long-term measures, or merely a stopgap to sway investors in the project’s favor, remains to be seen.
While attempting to overcome this significant setback, AUCTION traders and investors are now keeping a watchful eye on the token’s price movements and any further initiatives taken by the Bounce Finance project. The next several weeks will tell us whether AUCTION will return to the level of stability it once had or continue to face major obstacles in maintaining its market value. For now, the tale of $AUCTION is one of uncertainty in a rapidly evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.
Argin Chronicles Copyright © 2025.
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