As allegations of manipulation in the cryptocurrency market resurface, on-chain analyst EmberCN made some noteworthy statements.
At this point, an important warning came from the analyst regarding the altcoins SIREN, AKE, XPIN, and BTR.
EmberCN stated that it examined the wallet addresses associated with the altcoins in question and detected suspicious signs indicating that the same active market maker played a role in the price movements of the four tokens. According to the analyst, all of these tokens experienced sharp increases exceeding tenfold.
AKE, SIREN, XPIN, and BTR are on the list!
One of the tokens that EmberCN particularly highlighted was AKE. According to the analyst, after experiencing a sharp drop of approximately 60% at the beginning of July and a large number of leveraged investors exiting the market, AKE gained approximately 52 times its value in the following month.
Noting that this rise is remarkable, the analyst suggests that this movement in AKE is linked to a suspicious market maker.
In this context, the analyst notes that there are linked addresses indicating that the suspicious market maker traded not only on AKE but also on SIREN, XPIN, and BTR.
The analyst noted that these four altcoins have in common a history of experiencing controlled price increases exceeding tenfold.
The analyst also noted that some of the addresses associated with AKE had previously been used in SIREN transactions and most recently in the transfer of XPIN to Binance Alpha.
EmberCN concludes by stating that their findings regarding these altcoins are not definitive, but merely suspicions. The analyst notes that on-chain address relationships and price movements raise suspicions of manipulation.
*This is not investment advice.
