The market is down across the board today: Bitcoin is at $76,659, down 2.45% over 24 hours; Ethereum is at $2,243.71, down 2.74%; and Solana is at $91.78, down 4.10%. Not one of the three major coins is in the green.
The biggest eyesore in this market is AKE, Akedo's token. It's currently priced at $0.0053, down 23.85% in 24 hours and 80.7% over seven days, with $42.49 million in 24-hour trading volume.
AKE is a GameFi token on BNB Chain, with a circulating supply of 22.8 billion and a maximum supply of 100 billion. At its current price, it's already down about 96% from its September 20 high of $0.141454.
I've looked around, but couldn't find any new developments that would explain a drop this steep. The broader market is only down a couple of percentage points, while this token has lost nearly a quarter of its value in a day—and trading volume is still over $40 million. That doesn't look like a simple case of being dragged down by the market; it looks more like someone has been steadily selling.
One report also mentioned that around 2.1 billion tokens are scheduled to unlock around November 21. I haven't been able to verify that independently, so I'm just making a note of it—not treating it as confirmed.
So my view is to wait and see, with a bearish lean. I won't touch a token that's down 80% in a week; I'll wait until it finds a level where it can hold and trading volume starts to cool off. A big drop doesn't mean something is cheap—that's especially true of this chart.
When you come across a token that's down 80% in a week and there's no clear news, is your first instinct to watch it for a few days or just move on?
— Web3 crypto newbie Xiaokai
This article reflects only my personal views and does not constitute investment advice. Data sources: CoinGecko and CoinPaprika. Prices were recorded at the time of publication; market conditions can change at any time. Please assess the risks for yourself.
#BTC #AKE #盘面观察 #GameFi $AKE
The biggest eyesore in this market is AKE, Akedo's token. It's currently priced at $0.0053, down 23.85% in 24 hours and 80.7% over seven days, with $42.49 million in 24-hour trading volume.
AKE is a GameFi token on BNB Chain, with a circulating supply of 22.8 billion and a maximum supply of 100 billion. At its current price, it's already down about 96% from its September 20 high of $0.141454.
I've looked around, but couldn't find any new developments that would explain a drop this steep. The broader market is only down a couple of percentage points, while this token has lost nearly a quarter of its value in a day—and trading volume is still over $40 million. That doesn't look like a simple case of being dragged down by the market; it looks more like someone has been steadily selling.
One report also mentioned that around 2.1 billion tokens are scheduled to unlock around November 21. I haven't been able to verify that independently, so I'm just making a note of it—not treating it as confirmed.
So my view is to wait and see, with a bearish lean. I won't touch a token that's down 80% in a week; I'll wait until it finds a level where it can hold and trading volume starts to cool off. A big drop doesn't mean something is cheap—that's especially true of this chart.
When you come across a token that's down 80% in a week and there's no clear news, is your first instinct to watch it for a few days or just move on?
— Web3 crypto newbie Xiaokai
This article reflects only my personal views and does not constitute investment advice. Data sources: CoinGecko and CoinPaprika. Prices were recorded at the time of publication; market conditions can change at any time. Please assess the risks for yourself.
#BTC #AKE #盘面观察 #GameFi $AKE
