News Post

Most New Ethereum Tokens Appear to Be Pump and Dumps

Startup News FYI

· 5m
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According to a report by Chainalysis, over half of the newly listed Ethereum tokens on decentralized exchanges (DEXs) in 2023 showed patterns resembling pump and dump schemes. However, these tokens only represented 1.3% of total DEX trading volume, indicating that investors are putting their money into trusted tokens. Chainalysis found that actors behind pump and dump tokens collectively made $241.6 million in profit. The report highlights the need for investors to exercise due diligence when investing in unestablished tokens and emphasizes that pump and dump schemes can be identified using on-chain data.

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