Besides panic and running headless chicken factor i mean.
Eth.
+1
Whales trying to get more coins? I can't find any other rational explanation.
Because if the coin devs wanted to dump the premine, they'd wait until the price was approaching 2.5K. Dumping 10M (leftover from the premine) coins @ 600 Sat = 60 BTC = 30K EUR = 45K USD. Not a lot of money for someone who says they're trying to build a company and knows that such an action would surely ruin it.
That is my rational explanation. But maybe there is an irrational one or another rational one I've missed.
I doubt Instant-bitcoin dev would risk his site reputation for a couple thousands bucks. I believe their plan is based on the long term.
That was my point. The amount of money involved in dumping the premine is really not a lot. So that explanation is (for me) out the window and can be disregarded.