ACT developers sold their holdings for 4,340 SOLs, and ACT prices plummeted by 52%

BlockBeats reported that on November 1, according to Lookonchain monitoring, ACT developers sold 34.2 million ACTs in a single transaction for a total value of 4,340 SOL (about $730,000), causing the ACT price to plummet by 52%. Developers still hold 21 million ACTs (about $630,000) and may sell them again.

Developers previously spent 4 SOL to buy 126 million ACTs and sold 52.4 million ACTs through multiple wallets, earning 7,455 SOLs (about $1.25 million).