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Dealer Making Giant DEX Purchases Might Have Leveraged Lengthy SUSHI Place On dYdX
SUSHI, the governance token of the favored decentralized trade, has surged 20% at this time, outperforming broader markets. Nonetheless, suspicions have arisen about doable market manipulation driving this sudden enhance in worth.
Blockchain sleuth Lookonchain has uncovered proof suggesting that somebody could also be manipulating the value of SUSHI for private revenue. A contemporary pockets has been noticed buying giant portions of SUSHI on decentralized exchanges and concurrently depositing USDC on perpetual exchanges like dYdX.
This sample has been detected throughout a number of addresses, hinting at a coordinated effort to inflate the value of SUSHI. Merchants could want to train warning as these newly acquired tokens could possibly be dumped at any time.
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