BLESS (BLESS) fluctuated 58.2% in 24 hours: Team’s sell-off of 300M tokens triggered sharp drop followed by slight rebound

Volatility Overview

In the past 24 hours, the price of BLESS reached a high of $0.0115 and a low of $0.0072692, with the current price at $0.00818, representing an overall amplitude of 58.2%. The 24-hour trading volume is approximately $20.48 million, which is significantly higher than the previous day, with a clear net outflow of funds mainly due to large-scale sell-offs.

Brief Analysis of Abnormal Fluctuations

- The project team/related wallets sold approximately 300M BLESS tokens to exchanges (such as Bitget) in the past 24 hours, directly causing the price to plunge more than 55% from the peak.

- On-chain data reveals that this sell-off was a coordinated operation, accompanied by the inflow of 200M tokens into platforms such as Bitget, intensifying selling pressure.

- Secondary factors include derivatives liquidations (e.g., $4.39K long positions liquidated) and frequent speculative trading, but team selling remains the main cause.

Market Opinions and Outlook

Community sentiment remains cautious; some traders in X platform discussions view the current pullback as a "reset and consolidation" (e.g., buying interest returns after support holds), optimistic about a short-term rebound above $0.01. However, mainstream sentiment is concerned about further sell-off risks. Analysts warn that high volatility may easily lead to "bull or bear traps", suggesting waiting for confirmation of support at $0.0075 or staying on the sidelines as a precaution. Short-term market is likely to remain volatile, and attention should be given to the actions of major on-chain holders.