Multichain Network token MULTI fell by 27% after several whales dumped the token following its transaction delay issues.
Whales dump MULTI
Blockchain investigator Lookonchain reported that a whale address, 0xb4df, deposited 494,200 MULTI worth $2.75 million on Gate.io earlier today. The address is related to the Multichain Team, according to reports.
Hashkey also deposited 43,928 MULTI valued at $247,000 on the same exchange. Meanwhile, Hwg.eth preempted today’s dump by selling more than 36,000 MULTI for $200,000 on May 23.
Fantom (FTM) Foundation also removed roughly 450,000 units of MULTI ($2.4 million) from Sushiswap. Lookonchain noted that the crypto foundation would “likely sell-off” this withdrawal.
Delayed transaction issues
On May 23, the Multichain team explained that it was experiencing issues with the planned upgrade of its cross-chain bridge. The team wrote:
“The upgrade of the back-end node is taking longer than expected. Most of the routes are working as usual, as
We współpracy z: https://cryptoslate.com/whales-offload-multichain-as-network-suffers-delayed-transactions/
