PANews reported on March 4th that, according to Yu Jin, wallets associated with the Power Protocol project transferred 30 million POWER tokens (approximately $16.23 million) to Bitget and MEXC between last night and this morning. Of these, 20 million went to Bitget and 10 million to MEXC. The on-chain transfers occurred between 11:00 PM and 9:00 AM the following day. Subsequently, the price of POWER dropped from $1.86 to $0.17, a decrease of approximately 90%.
The Power Protocol team's associated address transferred 30 million POWER tokens to an exchange, causing the token price to plummet by 90%.
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Author: PA一线
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