TOWNS crypto: $0.08 to $0.035 in 48 hours – What’s behind this 50% drop?
The post TOWNS crypto: $0.08 to $0.035 in 48 hours – What’s behind this 50% drop? appeared on BitcoinEthereumNews.com.
Key Takeaways TOWNS crypto crashed 50% after whales moved tokens to exchanges and retail followed. Futures data signals more downside risk ahead. Towns [TOWNS] plummeted 50.79% from an all-time high of $0.088 to an all-time low of $0.035 before slightly recovering by press time. As of this writing, Towns was trading around $0.039, marking a 29% recovery from the new low recorded on the daily charts. At the same time, its market cap shrank from $163 million to $86.3 million, reflecting rapid capital outflows. So, what happened exactly? Whales dump as top holders rush to cash out According to AMBCrypto’s analysis of Nansen data, whales began aggressively selling after TOWNS rallied to $0.08. Source: Nansen On the 4th of August, TOWN’s top holders increased their holdings by 3.13 billion tokens. In total, top addresses’ holdings surged 61% to 10.21 billion tokens. However, as the price rallied on the 5th of August, these addresses decided to cash out and take profit. Exchange Balance for top wallets surged to 525.05 million—a massive 2.6 billion percent increase—while withdrawals amounted to just 8 million. This pattern indicates whales were positioning to offload into market strength. Naturally, such exchange inflows exerted downward price pressure, contributing to the rapid collapse. Source: Nansen Retail joins the exodus Unsurprisingly, as prices jumped, retailers on the spot market jumped to sell. On the 5th and 6th of August, Coinalyze recorded a cumulative Sell Volume of over 2 billion tokens across Binance and Coinbase. Net Buy/Sell Delta came in negative for both days, at -42 million and -11 million, respectively. Source: Coinalyze Such sustained sell pressure signals aggressive selling on the spot market. Usually, when sellers dominate the market, it signals a lack of long-term conviction, or early investors cash out to realize profits and avoid losses. Futures metrics show…
Filed under: News - @ August 7, 2025 12:29 am