Illuvium ($ILV) Price Action To Monitor Following Recent Happenings

The native token of the blockchain game Illuvium, $ILV, has experienced a sharp decline of over 5.3% within a few hours.

A large holder, known as @luggisdoteth, has sold off 40,730 $ILV tokens, which is roughly valued at $2.69 million at the time of the transaction. This significant sell-off caused the price of $ILV to drop by around 5%.

The transaction, which converted the $ILV into 778.72 $ETH (valued at $2.72 million), was conducted on-chain earlier today.

As a result of this large trade, the price of $ILV has fallen to $65.85 from $71.2, sparking concern among investors.

The native token of the blockchain game Illuvium, $ILV, has experienced a sharp decline of over 5.3% within a few hours, sparking concern among investors.

The #GameFi altcoin $ILV, the native token of blockchain game @illuviumio, plunges 5.3% in the last 1 hour‼️

A fall from $71.2 to $65.85❗️ Why is the #Crypto dumping ⁉️

An #Illuvium whale @luggisdoteth dumped 40,730 $ILV (now $2.69 million) nearly 30 mins ago❗️ pic.twitter.com/Lac33gEKdt

— TheNewsCrypto (@The_NewsCrypto) June 22, 2024

The cause of this sudden dip is attributed to a large holder selling off their tokens. According to on-chain data, this whale sold 40,730 $ILV tokens, which is approximately $2.69 million at the current market rate.

The transaction, which converted the $ILV into 778.72 $ETH (valued at $2.72 million), was conducted on-chain earlier today.

luggis.eth sold 40,730 $ILV for 778.72 $ETH ($2.72M) on-chain ~10 mins ago, causing the price of $ILV to drop by ~5%.

luggis.eth currently has 260,881.8 $ILV($17.64M) left.https://t.co/1RYqOhlKBs pic.twitter.com/X8SWvEIfvc

— Lookonchain (@lookonchain) June 22, 2024

This large sell-off caused the price of $ILV to drop significantly, with a decrease of around 5% being observed within a short period.

The market is now watching closely to see how this will impact $ILV’s short-term performance and whether other major holders might follow suit.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: aoo3771/123RF  // Image Effects by Colorcinch

News source：https://www.kdj.com/cryptocurrencies-news/articles/illuvium-ilv-price-action-monitor-happenings.html

The above is the detailed content of Illuvium ($ILV) Price Action To Monitor Following Recent Happenings. For more information, please follow other related articles on the PHP Chinese website!