After all the Tencent hype, the Chinese developers and the foundation have spent the past year dumping tokens on their own community instead of delivering meaningful results.
On X, they keep posting as if major development is happening, yet the chart tells a very different story.
Strangely, every time another wave of token dumping hits the market, they seem to have more time for overseas vacations than for building the project.
No serious market maker is going to absorb endless sell pressure created by free airdrops and Binance event rewards. Free tokens eventually become someone else’s exit liquidity.
Less building. More dumping. More vacations. That’s the real roadmap. #Chainbase
$C Check the weekly chart to see just how dangerous Chainbase’s zombie token has become. Since the Binance World Cup event began, the foundation has been dumping tokens onto retail investors for three straight weeks.
Be careful. This is a foundation that seems more focused on dumping tokens on retail holders than developing the project.
Apparently, the more tokens they sell, the more overseas trips they take. Priorities, I guess.
$C Even as trading volume dries up and the chart continues to deteriorate, the foundation keeps supplying an unlimited stream of tokens through its own selling.
The foundation is reportedly enjoying a summer vacation in Europe using profits from token sales.
No market maker is going to buy tokens that are being handed out for free. #chainbase
$C The Chainbase foundation is enjoying a summer vacation with the profits from selling tokens to retail investors, while the Binance event beggars have been bragging for two weeks straight about getting a free $8. 😂😂😂