Binance Alpha Project Suspected Team Dumping Leading to Token Price Plummet Drama, BSB Plunges 60% Overnight

BlockBeats News, April 30th, according to GMGN market data, yesterday afternoon, Binance Alpha project BSB continued to plummet, and by 11:00 PM, the decline suddenly accelerated. In a short period, it dropped by over 60%, with the price plunging from the $0.9 range to a low of $0.32.

On the previous day, an address suspected to belong to the Block Street team transferred tokens to a Bybit deposit address, sending a total of 5 million BSB tokens, with a total value of approximately $3.6534 million. The tokens from this sending address were previously from the BSB team's multisig address.

Team sell-off dramas have been frequently staged recently. The BLESS team, also part of the Binance Alpha project, sold off tokens worth $5.09 million after a continuous rise in token price, leading to a price collapse. Meanwhile, addresses belonging to projects such as LayerZero, AIOT, BIRB, and PUMP have also taken advantage of ample liquidity in the altcoin market to sell off some of their tokens.