TL;DR
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Chainalysis just published some data that suggests 54% of all tokens launched on Ethereum in 2023 were pump and dump schemes.
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If there’s some good news to take away, these pump n’ dump tokens only comprised 1.3% of total trading volume on Ethereum’s DEX networks, which suggests most of these token launches fell on deaf ears.
Full Story
Permissionless networks that allow anyone to create a tradable digital currency in just a few clicks:
Pros — there are no rules or barriers to entry.
Cons — there are no rules or barriers to entry.
Chainalysis just published some data that suggests 54% of all tokens launched on Ethereum in 2023 were pump and dump schemes.
Say it with us now: ‘YIKES!’
(Not a great look for the industry).
But there is some (kinda) good news here:
These pump n’ dump tokens only comprised 1.3% of total trading volume on Ethereum’s DEX networks, which suggests most of these token launches fell on deaf ears.
Stay safe out there folks!
