News

SatoshiVM Whales Accumulate More Tokens As SAVM Price Crashes 30%

SatoshiVM has registered major whale accumulation even though the SAVM price plunged over 30% after MacnBTC and Ape Terminal conflict.
Published by
SatoshiVM Whales Accumulate More Tokens As SAVM Price Crashes 30%

SatoshiVM (SAVM), Bitcoin Layer 2 project, has grabbed the eyeballs of crypto industry participants owing to its gigantic gains followed by dumps. Lately, the SAVM price plunged over 30%, which was its biggest hit since its inception. However, whales have continued accumulating SAVM as they might be considering the ‘buy the dip’ terminology here.

Advertisement

SatoshiVM Whales Add More SAVM Tokens To Portfolio

According to a post on X by Lookonchain, a blockchain tracking avenue, major whale activity was noted for SatoshiVM. As the SAVM price plummeted by more than 30%, Whale ‘0xe939’ spent $200,000 worth of Tether (USDT) tokens to buy 24,940 SAVM, valued at $8.02 at the time. The trader currently holds a total of 118,187 SAVM tokens while his losses amount to $617,000 due to the recent price crash.

In addition, Whale ‘0x0c00’ used $50,000 USDT tokens to acquire 7,543 SAVM, which were priced at $6.63 at the time. According to Etherscan data, the whale has invested $2.1 million worth of USDT to purchase 193,676 SAVM to date. Whilst, their losses amounted to $716,000, eroding 34% of his SAVM holdings.

Also Read: SatoshiVM Team-Linked Wallet Sells $3 Mln SAVM, A Pump & Dump Case?

Advertisement

Reason For SAVM Price Crash

The SatoshiVM crypto witnessed a significant decline of over 35% amid a dispute involving Ape Terminal, a fundraising platform. The conflict emerged when an adviser to SatoshiVM, MacnBTC, accused Ape Terminal of fraudulent activities during the Initial DEX Offering (IDO). They alleged that all SAVM token allocations were unfairly distributed to Ape Terminal’s team members.

MacnBTC took to X and wrote, “A person I considered a friend and ate dinner with a week ago has lied to my face, betrayed and scammed me, several IDOs and the crypto community. @theapeterminal has scammed all of the IDO launches on their platform.” In addition, they noted that out of the 200,000 wallets that applied for SAVM rewards, all 10 winners were from the Ape Terminal team.

Meanwhile, Ape Terminal refuted the accusations, claiming that MacnBTC was the one profiting from the token sales. The controversy unfolded on social media, exposing conflicting narratives. Moreover, Ape Terminal went on to label SAVM as a “bittersweet” development for them. Additionally, they alleged that MacnBTC leveraged the opportunity to harvest their “own community for millions in profits.”

Consequently, the SAVM price crashed massively. At press time, SAVM traded at $7.92, indicating a plunge of 27.57% on Thursday, January 25. Whilst, it held a market cap of $53.21 million. On the contrary, the trade volume for SAVM soared by 95.45% to $49.79 million in the last 24 hours.

Also Read: Uma Oval goes live to capture Oracle-locked value

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Uncategorized

XRP News: Ripple-Backed Evernorth Amasses Over $1B in XRP Ahead of Nasdaq Listing

In a major XRP news today, Ripple-backed digital asset treasury firm Evernorth has expanded its…

October 27, 2025
  • Bitcoin News

Crypto Market Rally: BTC, ETH, SOL, DOGE Jump 3-7% as US China Trade Talks Progress

Today's crypto market rally comes on the positive progress in the US-China trade talks, with…

October 27, 2025
  • News

Indian Court Declares XRP as Property in WazirX Hack Case

In a landmark ruling, the Madras High Court in India has declared that XRP and…

October 27, 2025
  • News

Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH

Ethereum’s fundamentals continue to strengthen as major investors and analysts signal renewed confidence in the…

October 27, 2025
  • News

Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000

Bitcoin (BTC) has climbed above $113,000 as optimism grew ahead of President Donald Trump’s meeting…

October 26, 2025
  • News

Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?

Bitcoin traders are turning their attention to this week’s Federal Open Market Committee (FOMC) meeting.…

October 26, 2025