Sharp Decline in Altcoin Mantle Network in Crypto Money

As companies’ altcoin investments attract great interest in the cryptocurrency market, the conversion of these investments to sales can lead to sharp price declines. The latest example is the collapse of MNT, the altcoin of Mantle Network. The market value of MNT reached $1.49 after increasing by 40% at one point, breaking all-time records. Rapid Rise in MNT Price and First Sales Move Following this rise, the cryptocurrency investment company Dragonfly invested $12.6 million worth of MNT tokens in the cryptocurrency exchange Bybit. After the announcement that MNT will be listed on the Upbit exchange, Dragonfly invested $25.2 million worth of MNT tokens again in Bybit for a larger sale. Dragonfly’s Sale and the Decline in MNT Price Following these sales moves, there was a 20% decrease in the MNT price, dropping below $1.20. Such a selling strategy can lead to individual investors suffering losses. Investors are advised to be […]

Sharp Decline in Altcoin Mantle Network in Crypto Money

As companies’ altcoin investments attract great interest in the cryptocurrency market, the conversion of these investments to sales can lead to sharp price declines. The latest example is the collapse of MNT, the altcoin of Mantle Network. The market value of MNT reached $1.49 after increasing by 40% at one point, breaking all-time records.

Rapid Rise in MNT Price and First Sales Move

Following this rise, the cryptocurrency investment company Dragonfly invested $12.6 million worth of MNT tokens in the cryptocurrency exchange Bybit. After the announcement that MNT will be listed on the Upbit exchange, Dragonfly invested $25.2 million worth of MNT tokens again in Bybit for a larger sale.

Dragonfly’s Sale and the Decline in MNT Price

Following these sales moves, there was a 20% decrease in the MNT price, dropping below $1.20. Such a selling strategy can lead to individual investors suffering losses. Investors are advised to be cautious in such situations and to time their price increases correctly.

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