A strange incident has been seen on the Crypto Change Bitget, which has shocked the entire crypto community. The trading volume of a small token Voxel suddenly increased so much that he also left behind the world’s largest cryptocurrency Bitcoin. The volume of Voxel/USDT futures contract reached $ 12.7 billion in just 24 hours, while Bitcoin’s volume was only $ 4.76 billion during the same time.
This unusual bounce increased the dout between experts and traders. Many believe that there may be a technical disturbance in the Bitget’s bot system, while some are seeing it as a possibility of market manipulation. Bitget’s representative Shiye Jiayin also said on Twitter that, “We have noticed unusual trading behavior in Voxel/USDT pair and are investigating it.”
Although the exchange also clarified that trading, deposits and withdrawal on the platform are normally functioning, some users may face temperament restriction due to risk control mazors. Along with this, recently another important news was revealed, in which it was told that Bitget Pockets launched Word of Honor Possibility Detection Device Is.
Voxel Value both bounce and fall surprised
Voxel Value saw a lot of ups and downs and the token price increased from $ 0.0415 to $ 0.1166 in 24 hours, ie by about 179%. Along with this, a rise of 127% in just 2 hours and then a rise of 235% in the next 4 hours brought it to $ 0.1790.
But this rally could not last long. Within just 13 hours, the Voxel Value fell nearly 50% to $ 0.0911 and is currently trading around $ 0.08003. The market cap of the token is about $ 19.48m, while the 24 -hour volume is above $ 264.71m.
Crypto analyst Ash Crypto has also warned about this situation. He tweeted that, “This is the new level of manipulation. Voxel’s market cap is just $ 15m but the futures volume is more than $ 700 million. First aergo and now it. Please be alert.”
What is the real identity of gaming token Voxel?
Voxel is actually a game token called Voxie Techniques, a 3-D turn-based rpg. This game is free-to-play and has two modes such as exploration and scuffling with. Although there is some interest in the game, the increase of trading volume in such a big quantity cannot be considered a common phenomenon.
BITGET has said that they are investigating this whole situation and will give updates soon. Till everything is clear, traders are being advised to be careful while investing in small tokens.
Conclusion
This bounce in Voxel’s trading volume suddenly has become a matter of concern for Bitget. Whatever the technical disturbance or manipulation, the event suggests that anything can happen at any time in the cryptocurrency market. Therefore, being cautious and understanding the risk is the identity of a sensible investor. Along with this news, if you want to get more information related to BITGET, then you can read our Crypto Exchanges and Venture evaluation section, where you Learn about Bitget Change features and bonus offersSuch information will be found.
Also read:What is the truth of Crypto Honeypot RIP -off, how to save it?
