CHR has experienced a sharp pullback, hitting a support level around $0.23. Recent on-chain reports reveal that the WazirXIndia Exploiter was active again yesterday, moving 21.16 billion BOB ($800,000) and selling smaller holdings.
Additionally, the exploiter transferred 6.7 million CHR ($1.6 million) to a separate address, which was sold shortly thereafter. This activity came just three hours after the exploiter dumped various other assets.
The @WazirXIndia Exploiter is back on the move…
In the past hour, they've moved 21.16b $BOB ($800k) and some smaller holdings that have also been sold. And a further 6.7m $CHR ($1.6m), was sent to a separate address and was sold a few minutes ago
This is after the… pic.twitter.com/L0zPf8Id0O
— Nansen 🧠(@nansen_ai) July 22, 2024
Adding to the market turbulence, Whale 0x4e74 deposited 9.86 million CHR (approximately $2.48 million) onto Binance. This whale began withdrawing CHR on May 28th and is estimated to have incurred a loss of $820,546, representing a 24.7% decrease in value.
12 hours ago, Whale 0x4e74 (https://t.co/N2uTgjfSqT) deposited 9.86M $CHR (~$2.48M) onto #Binance
Notably, this wallet started withdrawing $CHR from May 28th, estimated to have incurred a loss of $820,546 (24.7%) 😠pic.twitter.com/km2X4nazI8
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 23, 2024
CHR Price Drop Following Recent MovesÂ
These significant moves have contributed to CHR’s overall decline of 7.5% in the past 24 hours. The combination of large-scale asset movements by both the exploiter and the whale has created substantial selling pressure, driving the price down to its current support level.
Investors and market watchers are closely monitoring these developments, as the actions of large holders can significantly impact market dynamics. The recent activity highlights the volatility and risks associated with cryptocurrency trading, particularly when exploiters and whales are involved.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: iqoncept/123RF // Image Effects by Colorcinch
