Astonishing News! Whales Control 93% of Supply, Market May Face Huge Volatility!

The cryptocurrency market is facing significant downside risks, especially with whales controlling 93% of the supply. In the past 24 hours, a well-known crypto asset has dropped by as much as 13.95%, becoming the largest loser in the market.

Market analysis shows that although there may be a short-term rebound, the downward pressure on this asset remains enormous as large holders continue to increase their holdings. Whale control has made the market exceptionally unstable; once a sell-off occurs, it may trigger a series of liquidations, exacerbating the price drop.

Data shows that the top 100 holders have controlled 93% of the total supply of this asset, and this concentration of ownership is particularly dangerous. If these large holders decide to sell, the market could plunge into panic.

Despite this, some spot traders are still continuously increasing their holdings, having bought over $1.4 million worth of assets in the past 24 hours, which clearly contradicts the broader market trend.

From a technical perspective, this asset has broken below two key support levels. If the downward trend continues, the price may further dip to $1.27 or even lower. However, if the RSI falls into the oversold region, a rebound may be possible.

In summary, the current market faces a dilemma: highly concentrated supply and increased sell-off pressure. If spot traders continue to accumulate, this asset may still experience a technical rebound.