Data: After the SIREN controller dumped the market, low-priced buybacks of chips led to a 96% drop in price with 680 million tokens changing hands
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According to on-chain analyst Yu Jin's monitoring, within 2 days, the SIREN controllers have essentially "broken down" 680 million SIREN (accounting for 94% of the total). This sell-off of SIREN led to a price drop of 96% (from $1.3 to $0.05), resulting in approximately 64.8 million USDT. About 200 million of these flowed into centralized exchanges such as Binance, Gate, and KuCoin, with most being bought in small amounts on-chain by hundreds of addresses after the price fell below $0.1. These small purchases are likely still orchestrated by the controllers, aiming to recover chips at low prices, increase tracking difficulty, and prepare for the next manipulation.
-- Price
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