Yesterday, the B coin market experienced a 'black 24 hours', with the token price plunging from $0.26 to $0.146, a decline of 40%. Through on-chain data tracking, this crash was driven by three forces, forming a chain reaction of 'institutional liquidation - smart money arbitrage - media spreading panic'. Below is a complete breakdown based on the dynamics of on-chain addresses: Act 1: Institutional liquidation sets the tone for decline. Key figure: VC firm CEHV partner Adam Cochran.
Building position trajectory: Within 13 hours after WLFI announced the purchase of B coin, Adam invested a total of $2.89 million through two addresses, buying 10.2 million B coins at an average price of $0.2833, becoming an important bullish force in the market.
Sell-off path:
First sell-off: Yesterday from 11:07-11:23, sold the first batch of tokens at an average price of $0.2485, raising market awareness.
Second sell-off: 14:49-15:08 continued to reduce holdings, increasing selling pressure.
Final liquidation: 15:25-18:00 completed all sales, with total losses of $355,000.
Market impact: From the first sell-off to liquidation, B coin price dropped from $0.2664 to $0.2255, with a total decline of 15%, breaking the market's long-short balance.
On-chain evidence: Wallet address 0x6bdcce4a559076e37755a78ce0c06214e59e4444 shows the complete transaction trajectory.
Act 2: Smart money's precise arbitrage amplifies volatility.
Controversial role: Address 0x26aEaf50B8595729FcB9e72836ed7e2ADB853c74 (misreported as associated with WLFI)
Trading Method:
Advance layout: Within 1 hour of purchasing B coin with WLFI, 3.32 million coins were acquired at a cost of $0.08492, considered a 'prophetic' operation.
High-level cashing out: Yesterday from 19:02-19:12, liquidated at an average price of $0.1838, with a single profit of $328,000, achieving a return rate of 116%.
Price shock: The sell-off from this address directly caused B coin to plummet 12.11% temporarily, with the price crashing from $0.2129 to $0.1871, instantly draining market liquidity.
Clarifying misconceptions: On-chain data shows that the address has no direct connection to WLFI, but is actually independent arbitrage funds; however, misinformation exacerbated the market's suspicion of 'insider trading'.
Act 3: Media dissemination triggers panic selling.
Public opinion catalysis:
19:05:40: Crypto media MMS was the first to report 'mysterious address large sell-off', pointing to 'insider funds fleeing', which triggered panic among retail investors.
19:07:45: Top news platform Planet Daily reprinted the news, further amplifying market anxiety.
Price freeze: During the fermentation of public opinion, B coin reached a low of $0.1461 at 19:07:15, with a market cap evaporating over 60% within 24 hours.
Data verification: During the sell-off period, B coin's on-chain transfer volume surged by 230%, and exchange recharge volume skyrocketed by 180%, clearly reflecting panic selling sentiment through on-chain behavior.
Revisiting insights: The 'microscope' value of on-chain data.
Warning significance of institutional movements: Adam, as an industry KOL-level figure, his operations strongly influence market sentiment, and one must be wary of the irrational volatility brought by the 'celebrity effect'.
The arbitrage logic of smart money: capturing market hotspots in advance (such as purchasing WLFI) and precise arbitrage reflects that on-chain data monitoring has become the core competitiveness of professional investors.
The resonance effect between public opinion and the market: The crypto market is highly sensitive to media reports, with a 140-character news flash capable of instantly reversing the forces of bulls and bears, requiring a rational view of 'short news impact'.
Objective conclusion: This crash is the result of a combination of capital games, media dissemination, and market sentiment resonance, rather than a single factor. Although on-chain data can restore the full picture of the event, it cannot predict the limits of human greed and fear - this is the eternal variable of the crypto market.
