Cryptocurrency

Cryptocurrency analysis platform Bubblemaps has revealed that there has been intense insider trading in the recently popular NEIRO altcoin. According to Bubblemaps, 78% of the tokens were predetermined and then distributed to more than 400 addresses.
The NEIRO team strategically acquired a significant number of Japanese influencer groups to promote the token and spent only $10,000 in the early stages. This minimal investment generated a staggering profit of over 10,000 times the starting amount.
Bubblemaps said in its statement:
<blockquote>
 “NEIRO on the ETH network is heavily controlled. 78% of the supply was collected at launch and distributed among many wallets. Insiders have already earned $4.5 million and they still own 66% of the supply.”
</blockquote>
Related News: <a href="https://en.bitcoinsistemi.com/breaking-news-coinbase-futures-announces-listing-of-three-surprise-altcoins/" target="_blank" rel="noopener noreferrer nofollow">Breaking News: Coinbase Futures Announces Listing of Three Surprise Altcoins</a>
On July 27, at exactly the same time, 80 addresses captured 77.7% of the supply. Each address held approximately 1% of the supply due to a limit on how much they could hold. Insiders studiously avoided direct sales, instead distributing tokens to 400 addresses, each rarely selling more than $3,000 at a time.
These efforts complicated the calculation of realized profits. Despite the complexity, Bubblemaps estimates the group still owns 66% of the supply and 11.7% has been sold, which equates to around $4.5 million at an average market cap of $40 million.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/watch-out-warning-issued-about-recently-hot-altcoin-developers-secretly-own-and-sell-most-of-the-supply/" rel="noopener noreferrer nofollow">Watch Out: Warning Issued About Recently Hot Altcoin – “Developers Secretly Own and Sell Most of the Supply”</a>

Watch Out: Warning Issued About Recently Hot Altcoin – “Developers Secretly Own and Sell Most of the Supply”

Bitcoin Sistemi EN

Other articles published on Aug 1, 2024

US Govt BTC Transfer Secures $2B Silk Road Funds

Centralized Finance (CeFi) Losses Grew 984% In Q2 2024: Immunefi

Trump Limited Edition Sneakers Now Available For Bitcoin Payments

Tria's Unchained brings Chain Abstraction to Injective Ecosystem

Donald Trump Unveils Limited Edition Bitcoin Sneakers Following Bitcoin 2024 Keynote

INTMAX and Plat’Home Launch RWA Token Protocol for Asset Tokenization

Join our free newsletter for daily crypto updates!