AERO, with a market cap of $880 million, saw a net outflow of $450,000 in the last 24 hours.
But that's not the scariest part. What’s alarming is that there are 740,000 wallet addresses, with the top 10 holding 68% of the supply.
When this number comes out, retail traders need to think twice. This new project on the Base chain launched in August 2023, and has a lifespan of 999 days—less than three years. While 740,000 addresses suggest some level of decentralization, having 68% of the tokens concentrated in the top 10 means: the market looks big, but there are whales controlling it.
Catalysts like Arthur Hayes Deposit, Whale Purchase, and Robinhood Listing have pushed social traffic to 2982. Sounds impressive, right?
The issue lies in the market data.
With a daily trading volume of $12.47M and liquidity at $39.92M, the turnover rate looks healthy. But a net outflow of $450,000 indicates that the big players are exiting.
A listing on Robinhood is bullish, but has that bullishness played out? Is there sustained buying pressure?
I’ve seen too many coins start dumping after a "Robinhood Listing." The day the news drops often turns into a time to cut the retail investors.
Are you still considering jumping into AERO, or are you already set to bail?
#AERO
But that's not the scariest part. What’s alarming is that there are 740,000 wallet addresses, with the top 10 holding 68% of the supply.
When this number comes out, retail traders need to think twice. This new project on the Base chain launched in August 2023, and has a lifespan of 999 days—less than three years. While 740,000 addresses suggest some level of decentralization, having 68% of the tokens concentrated in the top 10 means: the market looks big, but there are whales controlling it.
Catalysts like Arthur Hayes Deposit, Whale Purchase, and Robinhood Listing have pushed social traffic to 2982. Sounds impressive, right?
The issue lies in the market data.
With a daily trading volume of $12.47M and liquidity at $39.92M, the turnover rate looks healthy. But a net outflow of $450,000 indicates that the big players are exiting.
A listing on Robinhood is bullish, but has that bullishness played out? Is there sustained buying pressure?
I’ve seen too many coins start dumping after a "Robinhood Listing." The day the news drops often turns into a time to cut the retail investors.
Are you still considering jumping into AERO, or are you already set to bail?
#AERO