The top 10 addresses hold more than half of the tokens. Is that necessarily dangerous?
First, what this means: the same party could split its tokens across many new addresses, and links between these addresses can often be identified from transaction records.
The reasoning behind it: tokens that are distributed relatively widely through an airdrop may also have relatively dispersed holders at the outset. But if airdrop recipients sell in a concentrated wave, that can still create selling pressure.
$BONK airdropped half of its tokens to the Solana community at launch.
Don’t put all your funds behind a single prediction.
This is for informational purposes only and does not constitute investment advice.
First, what this means: the same party could split its tokens across many new addresses, and links between these addresses can often be identified from transaction records.
The reasoning behind it: tokens that are distributed relatively widely through an airdrop may also have relatively dispersed holders at the outset. But if airdrop recipients sell in a concentrated wave, that can still create selling pressure.
$BONK airdropped half of its tokens to the Solana community at launch.
Don’t put all your funds behind a single prediction.
This is for informational purposes only and does not constitute investment advice.