ARIA tokens experienced a dramatic 91% price drop after suspected market manipulators sold 45.64 million tokens, according to on-chain analyst Yu Jin. The tokens were exchanged for 5.42 million USDT, causing the price to fall from $1.01 to $0.09. This sell-off reduced ARIA's circulating market capitalization from $315 million to $38.5 million.
The tokens were withdrawn from Gate.io three weeks ago through eight wallets, coinciding with the early stages of ARIA's price increase. These wallets collectively sold the tokens at an average price of $0.12, leading to the significant market impact observed today.
ARIA Tokens Plummet 91% Amid Suspected Market Manipulation
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