A summary of the RAVE -95% price fluctuation from $26 to $1 over the past 24 hours.
RAVE Timeline: April 18, 2026
7:26 am UTC: I posted a call to action for Binance, Bitget, & Gate to investigate RAVE market manipulation and offered a $10K bounty.
10:56 am UTC: I posted an update increasing the bounty to $25K.
11:18 am UTC: Bitget publicly acknowledged the call to action.
2:08 pm UTC: Binance publicly acknowledged the call to action.
3:06 pm UTC: RaveDAO posted claiming they have no involvement.
4:19 pm UTC: Gate publicly acknowledged the call to action.
In the days leading up, on April 13 & 14, I confronted RaveDAO co-founder Yemu Xu (wildwoomoo) but have yet to receive an answer.
RAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply (h/t Mlm):
0x9831156F1a6E506Fca41503590b42F07c2e80f54
0x8Ed6245C3276307E1A9D9Dc872E98A0E770070fd
0x6020656d1EF182173E45D4Fc375BDD5a48c674B0
0x2664cB80a5ee7D8EC05fe7C752dD62E078056E6d
0x2D81F8AeBf3e58A5e638006c9fd8F38C5220ecab
0x31694d761A8e851cFFbCd286aC54D01e5Ce5aFe6
0x0A1F07993a51CcEb4f52CA67765AECeADDA790d7
0xEB74Df8588cFC1C179Df4bd96C0bB8B227B9bE92
0x53d7d52301366DC14E1916b14eFeC1aDD8F3487b
I found suspicious CEX activity in April 2026 tied to RaveDAO team addresses onchain, which potentially contradicts their recent statement:
Bitget
0x2dc20f2180582172f5450c5d71e23fa438a7031b
0xa3a02aeb97fc1737c66f50d07d024799c137891d
0x2d95eb42525e6087e0cb7869f98da6838ed2e743
Gate
0x31711246b05d71e9eda5e38a3abb654020ee3353
Given the supply concentration, the team at minimum knows who is responsible for this price action.
A simple litmus test: $6B in market cap was wiped out on just $52M of 24hr liquidations (h/t CoinGlass). That ratio points to a manipulated and unsustainable valuation.
RAVE is not the only token with manipulation we have seen on major centralized exchanges. It's just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours.
Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.
Exchanges need faster intervention on manipulation. Detection at scale isn't easy, but each day of delay means retail traders absorb losses while platforms collect fees on the volume. The outcome is the same regardless of intent.
While it's good the exchanges responded, I find it unlikely this activity wasn't spotted internally before I raised it publicly.
I recognize how much this behavior takes from retail traders, and I plan to investigate similar movements in hopes of identifying the responsible parties.
I want to reiterate that I did not take a position. If I had, I would have been liquidated myself. I also could not anticipate if or when the exchanges would comment publicly.
My $25K bounty will remain active since the only DMs received were unverified claims rather than non-public information with supporting evidence as requested.
If you wanna stop losing money in crypto, the first thing you should do is STOP day trading.
Because RETAIL day trading is structurally a SCAM.
This is a long post but if you just give me 120 seconds of your time, I swear you'll thank me in a few years.
I’ve been trading since I was a teenager.
I’ve had wins that made me feel I’m Batman and losses that genuinely broke pieces of me I’m still putting back together.
I tried EVERY STRATEGY myself as retail could ever find.
I even day traded for a year thinking it would finally save me, and I failed so painfully it still stings every time I remember it.
> My PNL was so shit to the point that my grandma, who I HELPED set up an AUTO BUY on BTC for, made more money than me.
> Then I became a low-frequency swing trader who barely touches positions, who GETS THE F OUT and STOPS TRADING for a while after a winning move.
> ONLY THEN did my life get better and everything finally start to click.
I’m not a saint. I’m writing this to save the younger, dumb, naive, and painfully impulsive version of me.
First, as a RETAIL DAY TRADER, you’re trading high-frequency with zero real information advantage (no real order flow, no true liquidity map, no market maker positioning, no execution advantage, nothing).
> Do it a few times each quarter, you survive.
> Do it 10+ times a week?
> Even if you have the strongest “discipline” and “risk management” skills in the world, the math will still burry you alive.
Retails don’t fail because they (we) never win.
We fail because we NEVER STOP, and high frequency only has one final outcome.
RUIN.
> This is literally why I built a punishment system for myself if I exceed my quarterly trade limit.
> Every major loss I’ve ever taken happened after a big win where I kept going instead of stopping.
> And every major win I’ve ever taken (and actually kept the money for a long time) was because I caught a big move and then CHILLED.
> Pattern is so obvious it hurts.
Winning is NOT you suddenly made big money.
Winning is keeping that money and not fking losing it next year.
> I’m seeing 14 year olds on TikTok calling themselves day traders, drawing lines on TradingView, thinking they unlocked some daily executable system after buying a guru’s course or Discord.
> It sickens me because if they knew it was gambling I wouldn’t care. At least they’re aware of the game.
> But this day trading meta is bigger than the dropshipping wave in 2016 and 2017. And we all know how that ended.
> People underestimate the difficulty of trading and massively overestimate their ability.
> The issue isn’t just the math. Yes the more you trade and the less you stop the harder consistent profitability becomes.
> But the real problem is younger retail traders GENUINELY believe that with “discipline” and “risk management” they are not gambling at all. They think day trading is a "skill" you can execute like a daily routine.
This isn’t just crypto day trading. The same logic applies to US equities and basically every market.
High frequency only works inside institutions.
> Take US equities for example.
> Do you know what institution traders don’t even look at? Candlestick charts and TradingView.
> They’re on Bloomberg terminals with data retail will never see.
Well, you of course knows this. BUT the 14 to 18 year olds don’t know that. They think their indicators are what all traders use.
And that’s the real danger.
> If you know you’re gambling, at least a part of you knows when to walk away.
> But once you believe it’s a “system”, you never stop.
> You keep clicking until the market empties you completely.
It really is just like a casino in disguise.
> When you walk into Vegas or Macau, you know EXACTLY what you’re stepping into.
> You see the lights, the tables, the dealers, the noise. Your brain knows this is gambling.
> But day trading today is a casino disguised as a COFFEE SHOP.
> New traders walk in thinking they’re here to “learn a skill”, not realizing they just sat down at a table designed to drain them slowly.
So they don’t stop.
That’s the whole tragedy.
Not the losing.
The fact that they genuinely believe they’re not gambling, which makes them keep going until there’s nothing left to lose.
> And those retail traders (like me) you see who look like they’re “winning”… honestly most of them just caught a big move.
> They had luck at the right moment, plus enough discipline beaten into them by previous losses that they finally learned how to stop after a win.
And even then, this tiny group is less than one percent of all retail.
It’s not hard to make money in trading.
It’s just unbelievably hard to keep it.
finally settled on the mint date for Hobos: March 4, 16:00 UTC 🥷
→ fully 100% on-chain innovative ASCII art
→ the first #DN404 project on @HyperliquidX EVM
→ minting website/checker: https://t.co/m3zYZGl3KO
⚠️ whitelist NOT finalized yet
✅ leave addy and repost
🧵details