$DEGO (2025/06/05) experienced a sharp decline of more than 50% in a single day due to a hack that drained +10M of liquidity from the system.
Losing half its value on such low volume reveals the weakness in their orderbooks, i.e demand. Even after almost 2 weeks there is no sign of recovery.
An NFT market place selling millions of dollars worth of assets should be able to sustain this kind of outflows. Otherwise, a users will see more and more of this "catastrophes" with or without hacks, every time a NFT Seller cash in their profits.
NOTE:
Is it not curious it has been zigzagging? Apparently, it means it price sinks and fast as it floats...
Technically, it gives a margin of safety based on past readings. Fundamentally... it is quite susceptible to boom-bust sequences.
