RAVE Price Surge Raises Market Manipulation Concerns

The cryptocurrency market has seen its fair share of volatility in recent times, but one particular project has caught attention due to a significant surge in its spot price. RAVE's price increased from $0.3 to $6.2, marking a 20-fold increase that has left many questioning the legitimacy of this sudden rise.

According to ChainCatcher, this maneuver led to liquidations exceeding $37 million across the network, with short positions accounting for over $31 million. The project team is estimated to have profited more than $30 million from this price surge.