AKE plunges 46.57% after all-time high: 98.2% of volume is wash trading
- —AKE fell 46.57% to $0.039 after peaking at $0.1576 the previous day
- —98.2% of transfer volume was wash trading; real volume estimated at $18.73 million out of $110 million
- —15 zero-age wallets moved funds to a single Gate.io address
- —The token had risen roughly 788-fold since July 7 before collapsing
Why it matters: The distribution pattern through freshly created wallets points to a risk of further declines as long as withdrawals to Gate.io continue.
Source: Coincu