AKE Token Drops After Large Transfers to a Centralized Exchange and On-Chain Selling

AKE fell sharply after large amounts of the token were transferred to a centralized exchange (CEX) and sold, according to on-chain monitoring. According to BlockBeats On-chain Detection, an on-chain analyst identified that about 3 days earlier, an AKE market maker transferred 3.94 billion AKE to a CEX and sold the tokens. AKE dropped 40% that day, with its price falling from $0.0005 to $0.0003. Over the past few hours today, the same market maker was observed transferring an additional 9.83 billion AKE to the same CEX, while on-chain selling was taking place. Following these transfers and sales, AKE declined another 33%, with its price moving from $0.0003 to $0.0002.