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Lookonchain Monitoring: A newly created wallet sold 9.3 million KTA and 2 billion GALA, causing KTA to plummet 37% and GALA to plunge 15%
On-chain monitoring firm Lookonchain discovered that a newly created wallet received 9.3 million KTA tokens, worth $685,000, and 2 billion GALA tokens, worth $3 million, via a cross-chain bridge. The wallet subsequently sold these tokens for 1,902 ETH (approximately $3.64 million). This action caused the price of KTA to plummet by 37% and GALA by 15%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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