BLESS (BLESS) fluctuated 58.2% in 24 hours: Team’s sell-off of 300M tokens triggered sharp drop followed by slight rebound
Bitget Pulse2026/04/17 22:03Volatility 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.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, for informational reference only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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