Analysts: SIREN's tokens are controlled by a large player, with DWF Labs possibly being the main controller.
PANews reported on March 23 that, according to on-chain analyst Yu Jin, the SIREN tokens controlled by the major shareholders are not just 66.5%, but 88.5%. This amounts to 644 million SIREN tokens, worth $1.44 billion. If we add their tokens listed on centralized exchanges, it means that the major shareholders control almost all of the SIREN tokens in the spot market, profiting through contracts. This led to a 30-fold increase in SIREN's price in just one and a half months.
After the SIREN market maker amassed 66.5% of the tokens last night, the analyst reviewed the SIREN Holders rankings again. He concluded that of the top 54 Holders addresses, excluding the first (which was a destroyed wallet) and the third (which was a Binance Web3 wallet), the remaining 52 wallets belonged to this market maker. Of these, 48 were the addresses that accumulated SIREN yesterday, and the SIREN in the other 4 wallets could be traced back to purchases made in late June/early July of last year, just like the other wallets.
Yu Jin stated that the controller is likely DWF Labs, whose public wallet holds 3 million SIREN tokens. They transferred SIREN the day before yesterday, and yesterday saw a concentrated accumulation of 66.5% of the tokens, making it difficult not to connect the dots.
You May Also Like
IP Hits $11.75, HYPE Climbs to $55, BlockDAG Surpasses Both with $407M Presale Surge!
Stocks start catching up with bitcoin’s earlier price crash to $60,000 as bond yields rise
