The cruelest truth of the crypto market: You think you are buying the dip, but in reality, you are buying the project team's assets.

【Event Spotlight】

On September 25, the newly launched coin Griffin AI (GAIN) on Binance Alpha staged a magical drama of "launching at the peak, and the peak immediately going to zero" — at 7:27 AM Beijing time, it suddenly started a waterfall-like crash, plummeting 95% of its market value within an hour, hitting a low price of $0.005 (equivalent to wiping out two zeros from the opening price), currently quoted at $0.00758, with a market cap on the BSC chain remaining only $2.58 million, which is even less than a medium-sized Meme coin.

【Data Deep Dive】

But what's even more outrageous is the token economics:

1️⃣ Total supply out of control: Originally set at a total of 1 billion, 235 million were in circulation, but on-chain data shows the actual issuance has soared to 5.29 billion (directly over-issued by 5 times).

2️⃣ Wallet black hole: The largest holding address owns 4.854 billion tokens (91.61% share), and continues to dump into the PancakeSwap V3 liquidity pool (currently paused).

3️⃣ Team goes dark: Facing accusations of token over-issuance and market manipulation, the officials have remained silent and unresponsive.

【Insight from Shen Ce】

This is not investment; it’s outright robbery!

Over-issuance by 5 times = the project team planned to harvest from the beginning, trading air tokens for real money 91% of holdings concentrated = so-called "decentralization" is a joke, prices are entirely controlled by a single address. Binance Alpha's endorsement is even more ironic — the exchange's new business trial has unexpectedly become a breeding ground for scam projects.

【Market Impact】

1️⃣ Trust crisis: Binance Alpha exploded as soon as it launched, leading investors to question the exchange's review mechanism.

2️⃣ Liquidity strangulation: GAIN's crash triggered a flash crash of some dog coins on the BSC chain, spreading panic.

3️⃣ Regulatory warning: If the SEC in the United States sees this kind of operation, they might accelerate the effort to cage the crypto market.

Do you think this is the project team's personal behavior, or a collusion between the exchange and the project team to harvest? Share your judgment in the comments, and the highest liked analysis will be deeply dissected in the next issue!"

(Follow Shen Ce, and let us penetrate the haze of the crypto circle, the next issue will reveal "How to Identify Fund Pools in Advance Using On-Chain Data") #山寨币战略储备