Axis Robotics insiders dump 76M AXIS, token falls 40%
- —Insiders moved over 76 million AXIS, worth more than $12 million, from a multisig
- —Some tokens went to Bitget, the rest were sold through DEXs
- —One insider sold 42 million AXIS and holds over 5.04 million USDC in eight wallets
- —AXIS price dropped roughly 40% over 24 hours
Why it matters: The episode highlights token concentration risk: insider selling wiped out 40% of the token's value and undermines confidence in the project.
Source: PANews