Suspected internal PIPPIN insiders control half of the supply, valued at $120 million
On December 2, blockchain analysis platform @Bubblemaps.io reported on platform X that suspected PIPPIN insiders control half of the supply, valued at $120 million. It found that 50 associated wallets purchased PIPPIN tokens worth $19 million. These wallets have the following characteristics: all received HTX funding within a short period, the amount of SOL received is similar, and there were no previous on-chain activity records. Additionally, it was found that 26 addresses withdrew PIPPIN worth $96 million from the Gate exchange within two months, accounting for 44% of the total supply. Most withdrawals occurred on October 24 and November 23, and most wallets were newly funded wallets. In the past two weeks, $PIPPIN {future}(PIPPINUSDT) token prices have increased 10 times, with the market capitalization rising from $20 million to $220 million.
Suspected internal PIPPIN insiders control half of the supply, valued at $120 million
On December 2, blockchain analysis platform @Bubblemaps.io reported on platform X that suspected PIPPIN insiders control half of the supply, valued at $120 million. It found that 50 associated wallets purchased PIPPIN tokens worth $19 million. These wallets have the following characteristics: all received HTX funding within a short period, the amount of SOL received is similar, and there were no previous on-chain activity records. Additionally, it was found that 26 addresses withdrew PIPPIN worth $96 million from the Gate exchange within two months, accounting for 44% of the total supply. Most withdrawals occurred on October 24 and November 23, and most wallets were newly funded wallets. In the past two weeks, $PIPPIN {future}(PIPPINUSDT) token prices have increased 10 times, with the market capitalization rising from $20 million to $220 million.
Suspected internal PIPPIN insiders control half of the supply, valued at $120 million
On December 2, blockchain analysis platform @Bubblemaps.io reported on platform X that suspected PIPPIN insiders control half of the supply, valued at $120 million. It found that 50 associated wallets purchased PIPPIN tokens worth $19 million. These wallets have the following characteristics: all received HTX funding within a short period, the amount of SOL received is similar, and there were no previous on-chain activity records. Additionally, it was found that 26 addresses withdrew PIPPIN worth $96 million from the Gate exchange within two months, accounting for 44% of the total supply. Most withdrawals occurred on October 24 and November 23, and most wallets were newly funded wallets. In the past two weeks, $PIPPIN {future}(PIPPINUSDT) token prices have increased 10 times, with the market capitalization rising from $20 million to $220 million.
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āļø Market Chill: A Correction Triggered by Macroeconomics The entire crypto market experienced a significant decline on December 1st. The main reason is related to macroeconomic expectations:
Core Trigger: A strong signal of interest rate hikes from the Bank of Japan has affected global liquidity expectations, leading to the sell-off of risk assets.
Chain Reaction: This triggered the liquidation of a large number of leveraged positions. According to various data, the total liquidation amount across the network in the past 24 hours ranged from $539 million to $637 million, with long positions accounting for the majority.
š§ Tech World: Upgrades and Interludes Progressing in Parallel Beyond market fluctuations, important events on the technical front are also advancing as planned:
Ethereum Fusaka Upgrade: Activated in the early hours of December 4th, Beijing time. This upgrade aims to enhance the network's data processing capabilities and is a long-term benefit for Layer 2 users.
Aztec Token Auction: The public auction of the privacy project Aztec's token began on December 2nd and will continue until December 6th. This auction employs a new mechanism, with the starting valuation significantly lower than previous financing.
Backstory Review: Cardano Network Incident: In November, the Cardano network briefly split due to a maliciously constructed transaction, impacting transactions and DeFi applications. This incident highlighted the importance of node version consistency.
š Community Corner: Gatherings and Discussions in Web3 Community activities remain lively:
DDVEGAS 2025: A large Web3 community event will be held in Las Vegas from October 15 to 17, focusing on NFT and blockchain innovation.
āDailyā Upgrade Discussion: In the community, announcements regarding the suspension of deposits and withdrawals for tokens like OP and MTL due to upgrades have sparked users' jokes about āclassic crypto moments.ā
Overall, the current on-chain environment faces short-term pains brought on by macro chills while also having a long-term narrative of steadily advancing technical infrastructure, with community vitality still intact. This is the norm in the crypto world. {future}(BTCUSDT) {future}(ETHUSDT)
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