Introduction
The cryptocurrency market has witnessed a dramatic turn of events as the price of Nillion (NIL) plummeted by over 50% in just 24 hours. This downturn is attributed to aggressive selling by a market maker, raising concerns among investors and prompting the Nillion team to initiate a token buyback using treasury funds.
Significant Price Drop: What Happened?
The cryptocurrency Nillion, associated with a privacy-centric computing network, has experienced a severe price drop from approximately $0.21 to below $0.10. The situation escalated as sellers drove the price down to lows of $0.086, leading to a staggering 680% increase in trading volume.
On November 20, 2025, the Nillion team released a statement on social media explaining that the drastic price decline was triggered by a market maker who sold large amounts of the token without proper authorization. The post did not specify the entity responsible for the sale, but it accused the partner of cutting off communication during and after the incident.
“If you were surprised by yesterday’s price action, you are not alone,” the team noted. “Our entire team was confused until we realized what had happened: a market maker sold NIL tokens without legal authorization from the Nillion Association.”
To mitigate the impact of this crisis, Nillion announced that it would utilize treasury funds for a token buyback. Additionally, collaboration with exchanges has led to the suspension of accounts related to the sell-off, and the project is pursuing legal action.
Market Outlook Ahead
As of the latest updates, NIL remains among the biggest losers in the cryptocurrency market, having dropped as much as 36% within the last 24 hours. Following the initial plunge to $0.086, there was a brief attempt at recovery, with prices rising momentarily to $0.14. However, this rebound quickly stalled, and NIL now hovers just above $0.118.
The token’s price has seen a long-term high of $0.95 in March 2025, indicating that current levels are down by more than 87%. Price fluctuations earlier in the week indicated potential for recovery, but the market’s current sentiment remains bearish. Analysts suggest that NIL might once again dip below the $0.10 mark as investor confidence wanes.
