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Analyst: GUN market makers on CEX sold coins in small amounts at high frequency in the early morning, with 191 million "undistributed" Tokens transferred in the early morning yesterday.
On April 1st, according to on-chain data analyst @ai_9684xtpa, there have been high-frequency small sell orders for GUN/USDT on CEX from early morning until 8 AM today, averaging 10 orders per second, with each order around 6 USD, resulting in approximately 216,000 USD of tokens being dumped per hour. Currently, it seems that GUN’s market makers have just canceled the bulk sell orders, and the coin price has slightly rebounded. Additionally, according to a new coin research report from CEX, 2% of GUN’s total supply (i.e., 200 million tokens) is allocated for liquidity/market making, with a note stating “tokens have not yet been distributed to market makers, additional address information will be provided later,” but this address transferred 191 million tokens at 3 AM yesterday.