Crypto whales manipulate YFII and SNM prices, making over $7 million by CoinEdition


Crypto whales manipulate YFII and SNM prices, making over $7 million
  • YFII has gained nearly 400% in 12 days despite this month’s bear market.
  • However, in 24 hours, YFII coin fell by more than 50% from $4,290 to $1,650.
  • Shitcoin SNM gained more than 5,000% in 24 hours, pushing its price from $0.19 to more than $13.

Despite the overall bear market this month, DFi.Money (YFII) coin gained extraordinary momentum, climbing the ladder from around $1,130 to $4,300, and closing each day for 12 days without any red candles, gaining nearly $400. %.

However, in 24 hours, YFII coin fell by more than 50% from $4,290 to $1,650.

YFII-USDT – 1-day trading chart (Source: Binance)

The cryptocurrency community is speculating about possible market manipulation by large crypto investors against the currency. Cryptoanalyst Lookonchain believes the manipulation came from two whales. They claim the plot began on November 11th when a prominent investor cumulatively bought $18.4 million of YFII per day for twelve straight days at an average price of $2,170.

The whale later transferred some funds from the Chinese exchange Huobi to the Binance platform for sale. According to the analyst, the investor may have made more than $7 million after dumping the coin.

Currently, YFII is trading at $1,870 with the 24-hour volume up by over 201%. Notably, YFII has a relatively small market capitalization of less than $73 million.

However, YFII was not the only altcoin to suffer from manipulation over the past 24 hours. The supposedly dead shitcoin SNM gained more than 5,000% in a 24-hour window, pushing its price from $0.19 to over $13. However, the coin has collapsed to less than $1.4 at press time.

1-hour SNM/BUSD trading chart (Source: Binance)

Some cryptocurrency enthusiasts blamed Binance for not delisting the coin from the exchange. Collin Wu’s media believes that Binance is the only significant cryptocurrency exchange where the token was tradable.

DisclaimerComments and opinions, as well as all information shared in this price analysis, are posted in good faith. Readers should do their research and due diligence. Any action taken by the reader is at their own risk, Coin Edition and its affiliates shall not be liable for any direct or indirect damage or loss.

Crypto Whales Post Manipulating YFII And SNM Prices, Earning Over $7 Million Has Debuted In Coin Edition.

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