Coinbase executive Conor Grogan pointed out that at least 94% of the tokens are held internally, with 87% previously controlled by a multi-signature wallet, which was later distributed to multiple addresses. Additionally, about 3% of the tokens were bought in large amounts by multiple wallets at the opening, while only 7.56% of the tokens provided liquidity on on-chain DEX.

The total market capitalization of the token is unusually high, due to the very low actual circulation, making it easy to push up the price, and a large number of tokens are suspected to be controlled by the official party. However, historical experience shows that for projects with such a structure, the actual circulating tokens in the market will gradually increase with subsequent upgrades, and the token price is also likely to come under pressure.