The price of FET dropped 12% in the latest trading session, driven by aggressive whale selling that overwhelmed investor demand of $47.3 million. The sell-off wiped out $1 million in long positions, while short sellers failed to capture any gains from the decline.
Whale Selling Accelerates
Large holders, often referred to as whales, have turned completely bearish on FET, according to on-chain data. Their selling pressure has been the primary catalyst behind the sharp price move, with no signs of accumulation from other major wallets. The $47.3 million in demand from smaller investors was not enough to absorb the sell orders, leading to a rapid drop.
Long Positions Wiped Out
The 12% decline triggered liquidations totaling $1 million for traders who had bet on price increases. These forced closures added further downward momentum. Interestingly, short sellers did not benefit from the move — the data shows zero gains for bearish positions, suggesting that the selling was concentrated among whales rather than leveraged shorts.
Investor Demand vs. Whale Supply
While $47.3 million in FET demand might seem substantial, it was dwarfed by the volume of tokens whales offloaded. The imbalance highlights a market where retail buying power is insufficient to counteract large-scale distribution. Whether this trend continues depends on whether new buyers step in or if whales continue to exit.
For now, the market remains under pressure. Traders are watching for any signs of accumulation that could stabilize the price, but with whales firmly in sell mode, the near-term outlook stays uncertain.
