The BR -Token, stated on Binance Alpha, halved in price after 26 addresses had withdrawn nearly $ 50 million in liquidity.
The Binance Alpha program is proud of the supposed thorough control of its projects. On Wednesday, June 19, however, one of the tokens of the program, Bedrock (BR), fell with more than 50% after a huge liquidity dump. Social media users quickly identified different whale addresses that tokens sold quickly in succession.
According to @ai_9684xtpa, 26 addresses in just 100 seconds have withdrawn $ 47.59 million in BR token -Liquidity. Three of these addresses were told more than $ 1 million, while 13 had more than $ 500,000.
The near-Instantan withdrawal of liquidity led to a price employee. BR is currently acting 44% lower in the last 24 hours. The coordinated timing of these whale scanning actions has played that the addresses may have acted in concert.
There is also the possibility that the tokens were held by team members or rogue insiders, although this has not yet been verified.
Binance Alpha is confronted with criticism
Binance Alpha has become a hugely successful product, focused on the marketing of the Binance portion. Thanks to the rewards it offers to Binance Wallet users, the Wallet app has by far the largest in terms of trade volumes.
Nevertheless, the project attracted some criticism, because traders claimed that Alfa users received all rewards. What is more, the last collapse of BR price has led some to call the program a bubble, with whales that artificially pump the tokens and then dump.
Pump and dump schedules, also known as carpet tracts, are a type of crypto schedule where whales try to artificially increase the price of a token, just to sell it afterwards.
