$AIN buyback worth $3 million—the money was spent, but the wallet hasn’t moved in 26 days 🤔
On September 16, $AIN plunged 86.5% in a single day, hitting a low of $0.016. On October 5, the project team spoke up: a third-party mistake was to blame, a new funding round had been secured, and they would use the money to buy back tokens. They also made the buyback wallet address public so everyone could monitor it on-chain. On October 13, they gave another update: the wallet had accumulated about $3 million worth of tokens, and buybacks were still ongoing.
Then, in late October, the token price surged 282% in a week, reaching $0.1559. Daily trading volume hit $153 million, and everyone was saying the rally had been sparked by the buybacks.
I went through the wallet’s on-chain history. Here’s what the records show: 22 purchases, all made on October 12 over a six-and-a-half-hour period. After that, 0 transfers in and 0 transfers out. On October 13, the team said they were “still buying.” But in the 26 days since then, there’s been no on-chain activity at all. Based on prices on October 12, those tokens cost roughly $2.98 million to $3.36 million, which lines up with the claim of $3 million—that much, at least, checks out. We shouldn’t get the numbers backward.
There are three things that don’t add up:
First, the timing doesn’t match. The purchases happened on October 12, but the story didn’t gain traction until early November. The team said they were “still buying,” yet the wallet has been inactive ever since—26 days without a single move.
Second, those tokens are now worth a lot more. The 71.638 million tokens, at today’s price of $0.119, are worth about $8.52 million—2.84 times the original $3 million. They’re sitting in the third-largest address on the network, accounting for 7.16% of the total supply. They haven’t been burned or transferred—and a buyback isn’t the same as a burn; the total supply is still 1 billion tokens.
Third, the liquidity pool couldn’t absorb it. The main $AIN /$USDT pool has just $133,000 in liquidity, with 24-hour trading volume of $526,000. If those $8.52 million worth of tokens moved, that would be 64 times the main pool’s liquidity and 16 times a day’s trading volume. On October 28, daily trading volume was $153 million; today it’s down to just $526,000, less than 1% of that figure.
A quick update on today’s numbers: the current price is $0.119, down about 6% over 24 hours. Since it was at $0.1559 in late October, it’s fallen about 24%. The top 10 addresses hold 84.1% combined, with the top two alone holding 44.5%.
Token holders are watching just one thing now: whether the buyback wallet 0x840a…2295 makes any outgoing transfers. If it moves, that’s a signal. If the team publishes new buyback execution records one day—or actually starts burning tokens—then these numbers will need to be recalculated.
Do you think this $3 million was genuine price support, or did they just buy for one day and turn it into a month-long story?
This is not investment advice. Alpha projects are high-risk and could go to zero. Follow me, and see you tomorrow with another look at the books.
#BinanceAlpha #AIN #链上观察 #BSC
On September 16, $AIN plunged 86.5% in a single day, hitting a low of $0.016. On October 5, the project team spoke up: a third-party mistake was to blame, a new funding round had been secured, and they would use the money to buy back tokens. They also made the buyback wallet address public so everyone could monitor it on-chain. On October 13, they gave another update: the wallet had accumulated about $3 million worth of tokens, and buybacks were still ongoing.
Then, in late October, the token price surged 282% in a week, reaching $0.1559. Daily trading volume hit $153 million, and everyone was saying the rally had been sparked by the buybacks.
I went through the wallet’s on-chain history. Here’s what the records show: 22 purchases, all made on October 12 over a six-and-a-half-hour period. After that, 0 transfers in and 0 transfers out. On October 13, the team said they were “still buying.” But in the 26 days since then, there’s been no on-chain activity at all. Based on prices on October 12, those tokens cost roughly $2.98 million to $3.36 million, which lines up with the claim of $3 million—that much, at least, checks out. We shouldn’t get the numbers backward.
There are three things that don’t add up:
First, the timing doesn’t match. The purchases happened on October 12, but the story didn’t gain traction until early November. The team said they were “still buying,” yet the wallet has been inactive ever since—26 days without a single move.
Second, those tokens are now worth a lot more. The 71.638 million tokens, at today’s price of $0.119, are worth about $8.52 million—2.84 times the original $3 million. They’re sitting in the third-largest address on the network, accounting for 7.16% of the total supply. They haven’t been burned or transferred—and a buyback isn’t the same as a burn; the total supply is still 1 billion tokens.
Third, the liquidity pool couldn’t absorb it. The main $AIN /$USDT pool has just $133,000 in liquidity, with 24-hour trading volume of $526,000. If those $8.52 million worth of tokens moved, that would be 64 times the main pool’s liquidity and 16 times a day’s trading volume. On October 28, daily trading volume was $153 million; today it’s down to just $526,000, less than 1% of that figure.
A quick update on today’s numbers: the current price is $0.119, down about 6% over 24 hours. Since it was at $0.1559 in late October, it’s fallen about 24%. The top 10 addresses hold 84.1% combined, with the top two alone holding 44.5%.
Token holders are watching just one thing now: whether the buyback wallet 0x840a…2295 makes any outgoing transfers. If it moves, that’s a signal. If the team publishes new buyback execution records one day—or actually starts burning tokens—then these numbers will need to be recalculated.
Do you think this $3 million was genuine price support, or did they just buy for one day and turn it into a month-long story?
This is not investment advice. Alpha projects are high-risk and could go to zero. Follow me, and see you tomorrow with another look at the books.
#BinanceAlpha #AIN #链上观察 #BSC
