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ESPORTS-Linked Sellers Move 35.13 Million More Tokens After 22.73 Million Sale

ESPORTS-Linked Sellers Move 35.13 Million More Tokens After 22.73 Million Sale

According to on-chain analyst Ember, addresses linked to the ESPORTS project sold 253 million tokens, or 28% of total supply, over 11 hours, deepening the token’s sharp decline after swaps through BNB into USDT.

USDT
BNB

Fact Check
The core numerical claims are corroborated by multiple primary sources. EmberCN's original on-chain analysis (x.com/EmberCN/status/2058899837614170613) directly establishes the 178 million tokens sold and >90% crash in 2 hours, also reproduced by PANews and crypto.news. Odaily confirms the $88.72 million market cap figure from GMGN. The only minor discrepancy is Odaily's '24H decline of 86.56%' vs '>90%' in the claim — but the >90% figure refers to the rapid 2-hour drop measured by EmberCN, not a 24H window, so both can be true simultaneously.
Summary

According to on-chain analyst Ember, addresses linked to the ESPORTS project sold 253 million ESPORTS tokens for 17.29 million USDT over 11 hours, equal to 28% of the token’s total supply. The source says the tokens were first swapped into about 26,000 BNB and then converted into USDT. During the sell-off, ESPORTS fell from $0.7 to $0.035. This adds a larger quantified total to earlier reports of project-linked selling on BNB Smart Chain, reinforcing that sustained distribution from associated wallets was a central factor in the token’s collapse.

Terms & Concepts
  • Project-linked addresses: Blockchain wallets associated with a token project, often tracked by on-chain analysts to monitor treasury movements or insider-related transfers.
  • BNB: The native token of the Binance ecosystem, used for transfers, trading, and transaction activity across related platforms and networks.
  • USDT: A U.S. dollar-pegged stablecoin widely used in crypto trading to move funds and settle transactions.