The altcoin project that Ethereum co-founder Vitalik Buterin talked about recently came true. But attention stands at 50 addresses, more than half of the token supply.
Altcoin “supported” by Vitalik Buterin appeared
Vitalik Buterin’s idea to create tokens that would be a problem for scammers and bots came true. On October 15, Buterin published a tweet recommending the creation of a new crypto project that will be called “THE Protocol”. In this way, investors using THE hashtag will stay away from scammers.
$THE people listened to Vitalik
Is this new meme coin one to take notice of?
Here are some numbers you need to know 🧵 ⤵️ pic.twitter.com/4gLqOXo8mz
— Nansen 🧭 (@nansen_ai) October 18, 2022
Altcoin made 1.000% in a short time
The idea came to life shortly after Buterin’s suggestion. The token contract for “THE” was created hours after the tweet and massively amassed, adding 1,000% to its value.
Similar to the Shiba Inu, the creator of the token decided that it would be fair to send some “copyright fee” to the person who created and shared the idea. Ten percent of THE’s total supply was transferred to Vitalik Buterin shortly after its creation.
Attention, 50 addresses hold more than half of the token supply
Currently, more than half of THE’s supply is in the hands of the 50 largest addresses. The big Ethereum whales also took their chances for the nascent token. Popular investors like “Sisterofvitalik” and hxr.eth bought the token. However, some large addresses started selling despite the lack of active sales from top addresses and individual investors. This shows how cautious investors should be with tokens like THE, which have become the target of market manipulation.
Currently, approximately 41 million THE tokens are circulating on Uniswap and MEXC. Thus, DEX platforms become the largest markets for THE token. Numerous Blockchain and research platforms are issuing warnings when identifying the token.
Elon Musk commissioned this bot analysis in his fight with Twitter
Spam and fake accounts are more common on Twitter than any other social platform, according to a data analytics firm Elon Musk hired as part of his legal battle with Twitter. Cyabra’s claim is that an estimated 11% of Twitter’s total user base is bots.
Bots on Twitter have been at the center of the dispute over Musk’s first attempt to exit the acquisition deal. Less than three months after signing the deal, Musk stopped buying Twitter. Later, executives sued Musk for manipulating Twitter shares. In this context, messages containing Dogecoin emerged between Elon Musk and former CEO Jack Dorsey. Twitter’s misleading bot count is behind Musk’s sharp U-turn. cryptocoin.comAs you follow, Elon Musk later returned to buy Twitter.
