As allegations of manipulation in the cryptocurrency market resurface, on-chain analyst ZachXBT made noteworthy statements. ZachXBT stated that the sharp price movements in the RAVE token, which have recently caused a stir, are not an isolated incident, and that other projects exhibiting similarly suspicious price behavior exist.
According to the analyst, projects like SIREN, MYX, COAI, M, PIPPIN, and RIVER have also recently stood out with “highly suspicious” price movements. ZachXBT stated that the RAVE example is only one of the most obvious cases, indicating a broader problem of such manipulation.
ZachXBT also stated that centralized exchanges should respond more quickly to such manipulative actions. While acknowledging that manipulation is difficult to detect, the analyst noted that every delayed intervention leads to significant losses for retail investors. He also pointed out that platforms that profit from trading volume continue to make gains during this process.
On the other hand, ZachXBT announced that it will continue to investigate similar market movements and aims to identify the individuals or groups behind these manipulations.
*This is not investment advice.
