TechFlow News, March 22 — According to Etherscan monitoring, AUCTION token price briefly surged past $68 earlier today, reaching a new all-time high before rapidly dropping to $45. Suspected whales/institutions manipulating AUCTION appear to have withdrawn approximately 2 million AUCTION tokens from Binance across four different addresses between February 23 and March 16, representing 26% of the total circulating supply. During this period, AUCTION’s price rose from $12 to $26.
Then on March 17, these addresses transferred 500,000 AUCTION tokens (worth about $16.9 million) back to Binance, causing the price to drop from $35 to $31. After that, AUCTION resumed its upward trend, eventually breaking its previous all-time high early today. As of now, these suspected market-manipulating entities still hold around 1.5 million AUCTION tokens on-chain (approximately $67.5 million), accounting for 20% of the total circulating supply.
