Massive Binance Alpha Token Wash Trading Group Uncovered, Says On-Chain Analyst

On-chain researcher The Data Nerd has recognized what seems to be a large-scale coordinated wash buying and selling group working on Binance’s Alpha token markets.

According to The Data Nerd’s submit on X (previously Twitter), the group has been utilizing a number of wallets — all withdrawing BNB from Binance and doubtlessly managed by a single entity — to conduct high-frequency trades throughout dozens of Alpha tokens. The wallets collectively execute 1000’s of transactions day by day, spanning dozens of various tokens and producing huge volumes at an irregular buying and selling tempo.

Data from the previous 30 days reveals that every handle has interacted with greater than 250 totally different tokens, racking up lots of of 1000’s of trades. This stage of exercise strongly suggests automated buying and selling bots, reasonably than the conduct of any reliable undertaking or group merchants.

Interestingly, these addresses have additionally been noticed buying and selling $COAI, a just lately widespread memecoin. However, in contrast to typical insider wallets that accumulate early and maintain, these addresses show purely algorithmic buying and selling patterns — repeatedly shopping for and promoting with out long-term positions, indicative of arbitrage or mining bots reasonably than speculative traders.

Such operations increase renewed considerations about wash buying and selling and synthetic liquidity era inside centralized exchange-linked ecosystems. While Binance has not commented on the findings, the dimensions of coordinated exercise highlights ongoing challenges in figuring out and mitigating manipulative buying and selling conduct that distorts token market knowledge and investor notion.

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