This morning, the performance of $LIGHT was really disappointing, dropping by half in just one morning. The reason is obvious: the project team is the one dumping the coins.

On-chain analysis makes it clear that the team transferred over six million dollars' worth of coins to the exchange to sell, and also moved over two million to a smaller wallet to continue selling. The key point is that 90% of the coins are held by the team themselves, and there is hardly any circulation outside; the liquidity is as thin as a piece of paper. As soon as they sell a little, the price collapses directly, which is essentially precision-controlled dumping.

What is most frustrating is that the team has not said a word to this day, not even a proper explanation. In this day and age, some project teams are so lazy that they don't even pretend anymore; they cut the grass with such boldness.

(Purely a complaint, not for any reference.)