The ARIA token experienced a price collapse of over 91% after a single large holder sold 45.64 million tokens for approximately 5.42 million USDT. The massive sell-off took place early in the morning, sending the token's value from $1.01 down to $0.09.
On-chain data confirms that the sell-off originated from a group of eight interconnected wallets. These wallets had withdrawn the ARIA tokens from the Gate.io exchange three weeks prior to the event. "This type of coordinated dump from a single entity is a classic example of market manipulation," said a crypto analyst. "It preys on low-liquidity markets and can erase millions in value in minutes."
The sale of 45.64 million ARIA represents a significant portion of the token's circulating supply. The immediate effect was a 91% price drop, but the longer-term impact is a severe blow to investor confidence. Such events often lead to panic selling from other holders and can create a death spiral for a token's price. The incident also brings the ARIA project's viability into question and may increase its risk of being delisted from exchanges.
This event serves as a stark reminder of the risks inherent in altcoins, particularly those with low market capitalization and concentrated ownership. For investors, it underscores the importance of researching token distribution and on-chain activity before investing. The next key level for ARIA will be to see if it can establish a new support level above the $0.09 low, or if continued selling pressure will push it further down.
This article is for informational purposes only and does not constitute investment advice.
