How Whales, KOLs, and Project Parties Form a Triangular Interest Structure to Precisely Harvest Retail Investors

"Whales entering the market," "famous KOLs calling out trades," "project parties issuing airdrops" sound like good news, but they are often the prelude to harvesting retail investors. In the cryptocurrency space, these three parties have formed a tacit cooperative "harvesting structure":

The project party is responsible for packaging the narrative.

Whales build their positions in advance, creating depth and volatility.

KOLs cooperate to call out trades and generate hype.

This is not a conspiracy theory, but an open collusion. They even privately negotiate their divisions of labor on Discord. KOLs receive allocations or "promotion fees"; whales provide market-making; project parties sell off their tokens in advance. After a series of coordinated actions, retail investors only realize they are the "last ones left".

This is also why on-chain data is more honest than any promotion. By checking the address build-up time, transfer paths, and DEX trading details, you can unveil the hypocritical facade of "colluded trading calls". In a market structured by interests, only transparency can bring freedom.