Wash Trading Suspicion for a Whale on Binance: They Are Targeting One Altcoin in Particular

On-chain analytics platform The Data Nerd announced on X (formerly Twitter) that it had detected a large-scale “wash trading” operation in Binance Alpha ￰0￱ to the post a group likely controlled by a single individual or organization is using numerous addresses to withdraw BNB from ￰1￱ addresses are processing thousands of high-frequency transactions for dozens of different tokens ￰2￱ the past 30 days each address has reportedly traded over 250 different tokens processing hundreds of thousands of ￰3￱ News: Founder of This Altcoin Bought a Significant Amount of His Own Token: The Price Chart Turned Green The Data Nerd argued that activity on this scale exhibits a pattern more typical of automated trading bots than individual investors or project ￰4￱ was also noted that these addresses had recently traded COAI tokens

but generally did not “buy the dip” and instead operated in a continuous buy-sell ￰5￱ behavior was likened to the trading strategies of arbitrage or mining bots rather than memecoin insiders. *This is not investment ￰6￱ Reading: Wash Trading Suspicion for a Whale on Binance: They Are Targeting One Altcoin in Particular