Nillion Plunges 50% After Alleged Market Manipulation

The price of NIL, the cryptocurrency behind the Nillion blockchain project, has taken a dramatic nosedive, plummeting by a staggering 50% in just 24 hours. This steep decline is attributed to alleged unauthorized market-making activities affecting major exchange pairs, according to multiple sources. Trading volume spiked to $136 million within that same timeframe, indicating a significant increase in liquidity flows amidst the sell-off. The NIL team remains silent on the incident, leaving investors and analysts speculating about potential internal proceedings.