Plasma loses 10% as positions unwind – Why THIS XPL support is next test

Plasma [XPL] continued its downtrend, dropping 10.22% over 24 hours, with new discoveries indicating potential connections to earlier liquidations. At the time of reporting, the altcoin price sat around $0.06335, whereas its spot trading volume decreased by 22.35% to $102.48 million. The sell-off followed a November 2 funding trace that identified possible connections between November liquidation addresses and April traders. Investigators reportedly traced the funds through an exchange hot wallet before USDT withdrawals reached addresses associated with November trading. But the results were not sufficient to prove the common ownership or control of the wallets. Earlier, on April 3, XPL surged 42% to $0.167 before plunging over 40% within minutes. Five addresses opened long positions prior to the rally, sold margin during the climb and ended up being liquidated.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.