Edel Finance-Linked Wallets ‘Snipe’ 30% Token Supply, Bag $11M: Bubblemaps

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Concerns are mounting over unusual activity surrounding the token launch of Edel Finance, a lending protocol focused on tokenized stocks and real-world assets (RWAs).

Blockchain analytics platform Bubblemaps claimed in a Tuesday X post that a cluster of about 160 wallets accumulated 30% of the EDEL token supply, worth $11 million, during the launch earlier this month. The platform alleged the wallets were linked and funded in a coordinated fashion immediately before trading opened.

“Edel Finance sniped 30% of $EDEL. Then tried to hide it behind a…



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Edel Finance-Linked Wallets ‘Snipe’ 30% Token Supply, Bag $11M: Bubblemaps


Concerns are mounting over unusual activity surrounding the token launch of Edel Finance, a lending protocol focused on tokenized stocks and real-world assets (RWAs).

Blockchain analytics platform Bubblemaps claimed in a Tuesday X post that a cluster of about 160 wallets accumulated 30% of the EDEL token supply, worth $11 million, during the launch earlier this month. The platform alleged the wallets were linked and funded in a coordinated fashion immediately before trading opened.

“Edel Finance sniped 30% of $EDEL. Then tried to hide it behind a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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