TechFlow reports, on November 1, according to Lookonchain monitoring, an ACT developer sold 34.2 million ACT for 4,340 SOL (approximately $730,000) in a single transaction, causing ACT to plummet 52%.
The ACT developer still holds 21 million ACT (worth about $630,000), which may be dumped again. The developer previously spent 4 SOL to purchase 126 million ACT and has since sold 52.4 million ACT through multiple wallets, earning 7,455 SOL (approximately $1.25 million). The developer also burned some ACT and currently holds 21 million ACT across three wallets.
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