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MDT plunged 40% shortly after reports praised its 7-day growth

mdt-plunged-40-shortly-after-reports-praised-its-7-day-growth
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Markets
MDT plunged 40% shortly after reports praised its 7-day growth

A token for a decentralized data exchange ecosystem Measurable AI has lost over 40% in value just one day after reports praised its 117% surge on a weekly scale.

Measurable Data Token (MDT), a native token for the Measurable ecosystem, just within one day lost nearly half of its value it’s been gaining the whole week. As of press time, MDT is down by 41% to $0.063, according to data from CoinGecko.

MDT plunged 40% shortly after reports praised its 7-day growth - 1

The crash comes shortly after reports emerged, praising the token’s 117% growth on a weekly basis. However, amid the surge, analysts noted that whales have started depositing millions of MDT tokens to centralized exchanges, indicating a price dump should be expected.

https://twitter.com/spotonchain/status/1729476084025143443?s=20

According to an X account for Spot on Chain, crypto market maker DWF Labs deposited 5 million MDT tokens amid the price pump on Nov. 28, offloading a total sum of nearly 80% of tokens it had earlier received from the Measurable team. However, it is unclear if the recent dump was the result of DWF Labs’ token movements.

Measurable describes itself as a decentralized data exchange ecosystem built on the Ethereum network, which allows users to monetize their data. The ecosystem empowers MDT tokens, which users can earn by sharing their anonymized data with data buyers. Data buyers can then access this data to gain valuable insights for market research, consumer behavior analysis, and other purposes.