High-Risk Coins Contribute to More than 80% of the Trading Volume on TON: The Rise of TON High-Risk Coins
In the ever-evolving landscape of cryptocurrency, the Telegram Open Network (TON) ecosystem has emerged as a fascinating yet highly volatile space. Recently, our friends at TOP have crafted an insightful overview article, shedding light on the intriguing phenomenon of memes within the TON ecosystem. This piece not only delves into the cultural significance of these memes but also emphasizes a crucial lesson for all crypto enthusiasts: the importance of conducting thorough research before making any investment decisions.
While we applaud TOP for their comprehensive analysis, it is essential to acknowledge the inherent risks associated with certain coins within the TON ecosystem. Without explicitly using the term “scam,” we must recognize the high-risk nature of these assets. In light of this, we aim to supplement TOP’s article by providing additional insights and cautionary considerations for those navigating the TON landscape.
Join us as we explore the fascinating interplay of memes, risk, and investment in the TON ecosystem, reminding ourselves of the need for diligence and discernment in the dynamic world of cryptocurrency.
ChatGPT-3.5, model da-vinci.
1. Introduction
̶S̶c̶a̶m̶ ̶m̶e̶m̶e̶ high-risk coins have just started to emerge on DEX STON.fi and are increasing in volume by millions per day. Furthermore, these are imaginary tokens. Buffy is Pavel Durov’s favourite dog, while Morpheus is Nikolai Durov’s cat. The names were not picked at random. With the prefix T — because in TON — the remaining ones are just about other cryptocurrency ventures.
2. How it works?
Thus, the initial step in their construction is the funding of empty wallets from exchanges like ByBit, MEXC, or OKX.
When the currency is deployed and is refilled from other wallets or CEX, the wallets that purchase these coins also show up. Consequently, each token on DEX accumulated more than a million dollars in volume per day, after which the LP pool was combined and a new token was issued.
3a. Methodology
Initially, we must identify all tokens created in January (from the 1st to the present). We’ll determine their starting price, highest price (and ROI), lowest price (and ROI), and current price. Our findings indicate that the majority of the liquidity pool (LP) for these high-risks tokens is held by the zero address (EQAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAM9c). Therefore, we should identify each January token’s holders, and if the zero-address holds more than 80% of the LP, we will include it in our list.
Subsequently, we need to identify any bots that have increased the volume on DEX. Our approach involves going through all holders and if a wallet’s first transaction was made before the new year, we classify it as a bot. It’s unlikely that a regular user would create a new wallet, send a certain amount of USD to it, and immediately purchase a new, unknown token.
Finally, we’ll identify wallets that have swapped their January tokens and determine the amount swapped. From this data, we can ascertain the number of users who bought those tokens and the respective amounts in USD.
3b. Top high-risks tokens since 1st January
Important note: Although we started this review with a description of high-risk tokens that originally appeared on DEX STON.FI, the following list of tokens (also high-risk in our opinion) are not limited to DEX STON.FI, but are also present on DeDust, and some of them originally appeared on DeDust.
4. Conclusion
In conclusion, the rise of ̶s̶c̶a̶m̶ ̶m̶e̶m̶e̶ high-risk coins on DEX STON.fi presents a new dynamic in the cryptocurrency market, with the volume of these tokens increasing by millions per day. It is important to approach these high-risk tokens with caution, given the concentration of liquidity in the zero address and the involvement of bots in increasing the volume on DEX. The research provides valuable insights into the behaviour and characteristics of these tokens, which can guide potential investors and market participants in making informed decisions.
The importance of Doing Your Own Research (DYOR) is very well described in the original article. From our side we want to complement — try to study not only the project, the tokenomics, and the coin, but also the community — which is the locomotive of s̶c̶a̶m̶ ̶m̶e̶m̶e̶ high-risk coins. In the case described above, these coins have no community, and the chats are almost empty, with the same spam-bot (additional pattern).
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