Watch Out: A Significant Portion of This Altcoin’s Total Supply is Held by a Single Entity

On-chain analytics platform Bubblemaps has identified a group of addresses generating massive profits on ChainOpera (COAI) one of BNB Chain’s leading ￰0￱ there are speculations that these addresses may belong to the project team analysis points to a different ￰1￱ to Bubblemaps data the addresses in question are likely managed by an external group engaging in arbitrage or quantitative trading with Binance Alpha ￰2￱ data indicates that these addresses similarly withdraw BNB from Binance

were all created on March 25 and exhibit similar trading ￰3￱ News: Wash Trading Suspicion for a Whale on Binance: They Are Targeting One Altcoin in Particular However these addresses have reportedly been conducting thousands of transactions in dozens of different Alpha tokens every day since July with the transaction numbers ranging from several thousand per day to over 45,000 per ￰4￱ address has reportedly traded more than 240 different tokens in the last 30 ￰5￱ frequency of transactions suggests an arbitrage team using automated trading bots rather than typical user ￰6￱ to the Bubblemaps report

all 60 wallets exhibiting similar behavior were created with 1 BNB funding from Binance around 11:00 AM on March ￰7￱ 60 wallets are among COAI's most profitable investors with a single entity believed to control over 50% of the top 100 COAI ￰8￱ there is no evidence of any direct project team link this level of automation and process density is considered “unusual.” *This is not investment ￰9￱ Reading: Watch Out: A Significant Portion of This Altcoin’s Total Supply is Held by a Single Entity