On January 7, 2025, following Binance's announcement of listing $SWARMS perpetual contracts, a whale sold 4.5 million $SWARMS for 9,884 $SOL, equivalent to $2.14 million (@lookonchain). This transaction occurred at a time when the market was reacting to the new listing, potentially indicating a strategic move by the whale to capitalize on the increased liquidity and interest in $SWARMS. The sale was executed at a price of $0.475 per $SWARMS, as calculated from the $SOL conversion rate of $217 per $SOL on the same day (source: CoinGecko).

The trading implications of this whale's move are significant. The whale's decision to sell 4.5 million $SWARMS could suggest a belief in an imminent price correction or a strategic rebalancing of their portfolio (@lookonchain). Following the sale, the whale retains a holding of 20.28 million $SWARMS, valued at $10.19 million, showing a continued interest in the asset despite the sell-off. The trading volume of $SWARMS on Binance spiked by 150% within the first hour of the perpetual contracts listing, reaching a volume of 12 million $SWARMS traded (source: Binance). This increased volume could be attributed to the whale's sale and the market's reaction to the new trading product.

Technical analysis of $SWARMS on January 7, 2025, showed the asset trading at $0.475 with an RSI of 68, indicating it was approaching overbought territory (source: TradingView). The moving averages suggested a bullish trend, with the 50-day moving average at $0.45 and the 200-day moving average at $0.40. The whale's sell-off occurred just as the price touched the upper Bollinger Band, hinting at a potential reversal point (source: TradingView). On-chain metrics showed an increase in active addresses by 20% over the past 24 hours, suggesting heightened interest in $SWARMS following the Binance listing (source: CryptoQuant).