Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BNB ASTEROID token developers sold a lot of profits, triggering concerns about centralization.
ASTEROID is one of the most hotly debated projects in the cryptocurrency market recently, and this time its developers 'large-scale selling has once again pushed it to the forefront of the storm. According to online data, after the token was created, the developer concentrated most of the supply in his own hands and made a profit of approximately US$628,000 by selling millions of ASTEROID tokens. This incident once again triggered investors 'discussions on centralization and security.
Developers control approximately 80% of the token supply
According to data shared by the on-chain analytics platform Lookonchain, developers of the ASTEROID token purchased the token through four different newly opened wallets immediately after the token was created. A total of US$10,000 was spent to purchase 796.7 million ASTEROIDs, accounting for approximately 79.67% of the total token supply. Developers, who controlled most of the supply, soon began to gradually sell off the tokens they held.
According to shared data, developers sold a total of 718.8 million ASTEROID tokens on the market and received 1,103 BNB tokens. Based on current market prices, these sales were approximately $638,000, and after deducting initial investment costs of $10,000, the developer earned approximately $628,000. Lookonchain data shows that developers made hundreds of thousands of dollars in revenue in a short period of time by selling tokens after purchasing most of the ASTEROID supply at low cost.
BNB Chain releases official statement
After the incident, BNB Chain reiterated its previous statement. The company emphasized that ASTEROID tokens were not created, endorsed or supported by BNB Chain. The statement stated that the person who launched the project was a former employee of BNB Chain. The company said the former employee continued to gain unauthorized access to mnemonic information related to the official test wallet and used this access to create a memin called ASTEROID. BNB Chain announced that it has filed legal proceedings against the former employee. The company also said it was working with relevant public agencies to follow up on the matter and reminded investors to trust only officially verified projects. This incident once again shows that, especially in memecoin projects, investors need to pay close attention to team wallets, token allocation and chain movements.
Evaluation
Recent developments in ASTEROID tokens demonstrate the importance of token allocation and developer wallets in newly launched projects. About 80% of the total supply is controlled by a single developer, posing a serious centralized risk for investors, and large-scale selling has also become an important factor that may put pressure on prices. Experts emphasize that especially before investing in newly issued memecoin projects, chain data, token allocation and team wallet movements should be carefully reviewed.
