- Nillion’s price fell more than 50% as altcoins faced heavy selling pressure.
- The team accused a market maker of dumping the platform’s native token.
- Despite the price collapse, the team used treasury funds to buy back tokens.
As cryptocurrencies tumbled amid macroeconomic anxiety, the small-cap token fell from above $0.21 to below $0.10, with sellers driving intraday lows to $0.086.
The roughly 50% crash in NIL coincided with a dramatic 680% spike in daily volume. Panic selling accelerated on Wednesday as nearly $200 million in sell-side volume overwhelmed buyers, pushing prices sharply lower.
What triggered such aggressive selling of the network’s native token?
More than 50% plunge to near-zero: what happened?
On November 20, 2025, the Nillion team posted a statement on X.
According to the team, the sudden sell-off that caused NIL’s price collapse occurred after a market maker sold large holdings of the token.
The post said the sales were conducted without proper authorization. It did not name the entity involved but claimed the partner cut off communication during and after the price-moving event.
“If you were surprised by yesterday’s price action, you were not alone,” the team wrote. “Our entire team was confused until we identified what happened: a market maker sold NIL tokens without legal authorization from the Nillion Association, then refused to respond to our attempts to communicate during the flash sale and the hours that followed.”
To limit the fallout, Nillion said it deployed treasury funds to buy back tokens.
The team also cooperated with exchanges to freeze accounts and wallets associated with the dumping and said it is pursuing legal action.
Billion-dollar price outlook
NIL was among the biggest losers in the crypto market over the past 24 hours, showing a decline of around 36% at the time of writing.
After the initial drop to $0.086, bulls attempted a quick rebound.
Those short-lived gains pushed NIL up to $0.14, a 37% recovery from the intraday low, but the rally stalled and the token settled just above $0.118.
The price stayed around that level for much of the day, and technical indicators suggest buyers may be exhausted.
Sentiment has weakened, and the path of least resistance could be downward. Given the broader bearish mood among many altcoins, NIL may retest levels below $0.10.
Nillion reached an all-time high of $0.95 in March 2025, so current prices remain more than 87% below that peak. Earlier in the week NIL traded above $0.24 and was above $0.33 in October.