Stay Away From This Altcoin Account Promoting Shitcoins!

Crypto detective ZachXBT has exposed the Twitter account of a popular altcoin project. According to the findings, the Twitter account with more than 200,000 followers deletes all of its past tweets and tries to disappear.

ZachXBT disclosed this Solana-based altcoin project

Cryptocurrency ZachXBT has revealed another Solana-based project called Serum. He explained how the account with over 200,000 followers was marketing shitcoin.

ZachXBT shares an old screenshot of his Serum account, which has over 215,000 followers. According to the crypto detective, the account deleted all tweets and replaced his profile picture with a Milday. The username has also been changed to Luka and the account now has 207k followers.

One of the most interesting things ZachXBT shared was that the account had already blocked him so he wouldn’t notice his fraudulent activities. ZachXBT has detected that the account has started selling shitcoins. Another Twitter user, “DB”, drew attention to the fact that they opened a new Twitter account. The new Serum account also made a prediction that it would see $1,000 for its token.

Serum project stained with FTX

Serum (SRM) is a Solana-based decentralized exchange (DEX) protocol. It has had support from FTX since its inception, and now the bankrupt exchange was giving out weekly SRM to investors through an airdrop system.

On November 14, the Solana Foundation’s announcement that it has 134.54 million SRM in FTX raised questions about the future of the project. The serum is trading at $0.1758 at the time of writing, down 2.3% in the last 24 hours. It fell 98% from its all-time high.

How about Solana (SOL)?

Altcoin price has been busy breaking strong resistances lined up above $20 since the FTX crash. Solana’s NFT sales were also pretty sluggish. CRYPTOSLAM’s data revealed that Solana NFT sales volume has increased marginally by just over 1% over the past 30 days.

However, Solana Mobile, a subsidiary of Solana Labs, made an important announcement in the coming weeks that could help SOL’s NFT ecosystem thrive.

The announcement revolved around Solana Mobile Saga, an Android mobile with unique functionality and features tightly integrated with the SOL pen. The basic idea behind Saga was to make it easy and secure to transact on the Web3 and manage digital assets such as tokens and NFTs.

NFT volume

Following the departure of SOL’s popular NFT collections, their place was taken by others. According to DappRadar, Ev.io, Fab Punks and Primates have been the best NFT collections on the network in the last seven days. Daily active users on SOL’s NFT marketplaces were also stable.

However, Santiment’s chart revealed that total NFT trading volume in USD has dropped slightly over the past week. In addition, SOL’s total NFT trading count dropped significantly, raising concerns.

cryptocoin.com We have mentioned that Solana was interrupted once again in February this year. It should be noted that despite the negative developments, it continues to be among the top 10 in terms of market value.