On May 26, on-chain analyst Yu Jin monitored that the sell-off from addresses associated with the ESPORTS (Yooldo Games token) project totaled 253 million ESPORTS tokens, cashing out 17.29 million USDT. This amount accounts for 28% of the total supply of ESPORTS tokens. The ESPORTS price crashed 95% to $0.035, with market value evaporating by over $100 million in 24 hours.
Sell-off Details: Timeline, Scale, and BNB Conversion Path
According to Yu Jin’s monitored data, the sell-off was split into two periods. The first round (starting around 18:18 on May 25 for about two hours): the related addresses sold about 178 million ESPORTS tokens, receiving about 19,049 BNB, worth approximately $12.76 million. The second round (as of the 11-hour tally through May 26): cumulative sell-off totaled 253 million ESPORTS tokens—first converted into roughly 26,000 BNB, and then converted into 17.29 million USDT. The address types involved include team-controlled multisig wallets and suspected VC-related addresses. The sell-off was carried out via BNB Chain liquidity pools and centralized exchanges. Some funds were reportedly directed to Kraken addresses associated with DWF Labs, but the claim has not yet been officially confirmed.
Market Impact: 1,357% 24-Hour Volatility, Bulls Liquidated En Masse
ESPORTS’ price movement over 24 hours: low of $0.05222, high of $0.76108, followed by a rapid drop to about $0.05852. The 24-hour volatility reached 1,357.5%. The sell-off quickly depleted buyer liquidity within two hours; daily market cap losses exceeded $100 million, and large amounts of long positions were forcibly liquidated.
Background: Prior Token Unlocks
From May 18 to May 24, Yooldo Games had already gone through a round of token unlocks, with the total unlocked value at approximately $28.8 million. This had previously sparked discussion in the community, forming the backdrop for sell-off pressure.
FAQ
What proportion did the project team sell of the ESPORTS token?
Based on on-chain analyst Yu Jin’s monitoring, the project-team-associated addresses cumulatively sold 253 million ESPORTS tokens in about 11 hours, accounting for 28% of the total token supply; the cash-out amount was approximately 17.29 million USDT. ESPORTS is the native token of the game company Yooldo Games and trades on the BNB Chain (BSC).
How did the sell-off cause a 95% price plunge?
The sell-off was mainly carried out through BNB Chain liquidity pools and centralized exchanges, which caused buyer liquidity to be rapidly depleted within two hours. This triggered a chain-reaction collapse: ESPORTS fell from $0.70 to $0.035, and the forced liquidation of large long positions further accelerated the drop.
Has the claim that “some funds flowed to Kraken addresses associated with DWF Labs” been confirmed?
As of this report, this claim comes from monitoring observations by on-chain analysts and has not yet been officially confirmed by DWF Labs, Kraken, or the Yooldo Games project team.
