TOWNS Crypto Faces Potential Further Losses Amid Whales’ Selling Pressure and Retail Exodus

Key Points

1. TOWNS crypto dropped 50.79% from $0.088 to $0.035, with its market cap decreasing from $163 million to $86.3 million.

2. Whales sold aggressively, increasing selling pressure, and retail investors followed suit, selling over 2 billion tokens on major exchanges.

3. Futures metrics indicate bearish sentiment, with open interest falling from $12.6 million to $10.93 million and a Long/Short Ratio of 0.88 (53% short positions).

4. If the selling trend continues, TOWNS could drop to $0.034, but renewed buyer demand might push it back to $0.046.

5. The situation highlights the volatility of the cryptocurrency market and the impact of large holders on price movements.