BLESS fluctuates by 40.1% within 24 hours: Market panic continues after team sell-off

Volatility Overview

In the past 24 hours, the price of BLESS rebounded from a low of $0.0060495 to a high of $0.0084763, currently quoting at $0.0060716, with a swing amplitude of 40.1%. The 24-hour trading volume ranged from approximately $9.68 million to $10.89 million, indicating active liquidity but overall pressure.

Brief Analysis of the Abnormal Move

- On-chain data shows that on April 16, the project team’s associated address sold about 300 million BLESS tokens (worth approximately $3.83 million), with 200 million deposited into Bitget exchange and 50 million bridged to BSC and swapped for USDT, directly causing the price to crash by 55%. The current 24-hour high-low volatility is the aftermath of the panic sell-off.

- No new official announcements or major on-chain events in the past 24 hours; volatility is primarily driven by liquidity shock from the prior sell-off and trader stop-loss/bottom-fishing dynamics.

Market Views and Outlook

Market sentiment is mostly negative, with the community concerned about team selling eroding trust. Although trading volume is high, much of it appears to be short covering; analysts warn that short-term risks remain high, with a possible further test of the $0.006 support. Caution is advised for further unlocked sell pressure, and recovery depends on platform beta developments and absence of new sell orders.