@Rigidity16 Hard to claim they support the ecosystem while extracting community liquidity to pump their own meme token.
The top 10 $CHIA wallets hold over 60% of supply an extremely centralised holder base.
When the exit rush begins, that doorway will be extremely narrow.
@OrangeGooey Want me to show receipts? It’s all on spacescan if you spend 5 min 😂 I’m not a degen, I agree. Not a fan of shill, pump and dump tactics, but I know how to follow parent coins.
@OrangeGooey@The_CryptoCrypt@graviton2007 Maybe whoever is pumping it has so much of the supply now that there is hardly anyone left to sell, so they're basically inflating their own supply hoping people will buy. The volume and spot depth don’t match the chart.
@ignoreart@chiographer TVL is such an EVM mindset.
On Chia, AMMs should plug liquidity gaps. The real market structure is P2P order books, offer files, and actual executable volume.
@TeeMoney1738 This doesn’t look like organic demand or organic LP to me.
It looks like a shill-driven rotation after other CATs started printing higher volume.
When the shilling is active, volume appears. When the shilling slows down, volume dries up and price starts bleeding back.
@erikkkkkkkm Top 3 wallets control ~33% of supply, and the coin linage traces back to the same circle.
Even worse: 72.76% of the LP tokens sit in a single wallet. Easy to add liquidity when you control most of the supply.
TBF the metadata literally says “single issuance rug.”