Kava Plunges 25% Intraday From Day Earlier
Kava is plunging after signs emerged of a large token transfer and selling.As of 7:30 p.m. on November 14, Kava was trading at $0.05161, down 24.57% from a day earlier, according to CoinMarketCap.The cause of the sharp drop remains unclear.Community members have claimed that a large amount of Kava was moved off the network and then sold. According to one on-chain analysis account, about 48.36 million Kava, worth roughly $3.3 million, was moved from the Kava network to BNB Chain.The wallet owner then swapped Kava for BNB on a decentralized exchange, or DEX. The wallet still reportedly holds about 47.96 million Kava.Some in the community are also raising the possibility of a hack.