The price movements specific to an altcoin may be due to the project team and the giant market maker.
CyberConnect (CYBER) price hosted a pump-dump event today. According to the data transmitted by the on-chain analysis platform Spot On Chain, transactions related to the project team and the giant market maker, DWF Labs, were behind this movement.
First, DWF Labs deposited 66,567 CYBER worth 910 thousand dollars to Binance through a crypto wallet named “0x59e“.
Shortly afterwards, a multi-sig wallet owned by the CyberConnect team withdrew 200 thousand CYBER worth 2.67 million dollars from the crypto currency exchance Binance. With this transaction, the team purchased their own altcoin from Binance for the first time.
According to CoinGecko data, the CYBER price rose by around 10% around 06:00 GMT on March 27, climbing from 13.7 dollars to 15.2 dollars. Then, within the next hour, the price suddenly dropped, falling below 13.7 dollars. CYBER is currently trading at 13.06 dollars.
