Bounce Brand: The team has not participated in any AUCTION price manipulation and voluntarily locked approximately 1.5 million tokens from the funds and team allocation

Bounce Brand posted on platform X, hoping to clarify recent community concerns about the price fluctuation of AUCTION. It needs to be clear that the team has not participated in any manipulation of AUCTION token prices. In the past few weeks, some unknown parties have accumulated more than 20% of the total supply of AUCTION. Their on-chain transfer activities and their impact on AUCTON's price have attracted widespread attention, leading to:

1. The trading volume of AUCTION skyrocketed on major exchanges, and AUCTION futures became the third largest trading pair after BTC and ETH.

2. The spot trading volume of a certain CEX in South Korea broke through 500 million US dollars, surpassing BTC for several consecutive days. The significant premium price at CEX led to large-scale withdrawals from major exchanges for arbitrage opportunities with AUCTION.

In addition, there are some unhealthy market conditions and liquidity imbalances:

1. As a main price discovery market, CEX's hot wallet holdings have fallen below 10% of total supply;

2. Borrowing rates exceed 80% annually while financing rates remain at -2% over multiple periods;

3.The major exchanges adjusted their position limits and risk control measures for perpetual contracts.

To help stabilize market liquidity, Bounce Brand has been actively providing liquidity support for multiple exchanges; moreover,the team voluntarily locked approximately 1.5 million AUCTIONS from funds and team allocations.