The VIRTUAL token, formerly PATH, has seen a significant price surge of nearly 500% in less than 10 days. However, several factors warrant caution:
- Founders: Jansen Teng and Wee Kee Tiew, with backgrounds at BCG and Imperial College London, founded PathDAO, which later became Virtuals Protocol.
- Tokenomics: The token transitioned from PATH to VIRTUAL at a 1:1 ratio with no vesting period, and team wallets hold significant amounts of tokens.
- Price Movement: Despite declining platform usage and revenue, the token's rapid appreciation suggests speculation-driven growth.
- Market Manipulation: Large wallets buying low and selling high, with one whale making over $5 million in days, raise concerns about market manipulation.
- Transparency: Private team wallets and a treasury holding up to 35% of the supply, combined with a history of ignored failures, may impact investor confidence.
Investment Caution: While the token is listed on Binance, it's essential to conduct thorough research and consider these factors before investing. Not every exchange-listed project guarantees security or success.
#CryptoAlert #TokenInvestigation #MarketManipulation #VIRTUALToken #CryptoCaution $VIRTUAL
