Swell Network plummeted by more than 60%! Is it caused by the airdrop users' early hedging?

Swell Network (SWELL) experienced a stunning plunge in Aevo's pre-market market, falling more than 60% in 24 hours. The current price is $0.235, with a market value of $2.35 billion. This turmoil is obviously related to the recently launched airdrop query page. Many airdrop users may have taken the opportunity to cash out in advance, causing the price to fall sharply.

In this case, the market's reaction may be understandable. Airdrops usually attract a large number of speculators, however, the act of selling in advance will affect the overall liquidity and price stability. For investors who are still on the sidelines, this is undoubtedly an important warning.

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