Analysis: The suspected official Bedrock LP Address has net invested 50 million BR since June 19 to provide Liquidity.

According to ChainCatcher news, on-chain analyst Ai Yi (@ai9684xtpa) has monitored that one of the suspected official LP main addresses 0x9bd has net invested 50 million BR (approximately 4 million USD) since June 19 for providing liquidity. The operation mainly follows the method of "receiving tokens, selling part of BR for USDT, forming bilateral liquidity, and buying back when the coin price is slightly lower," with the main purpose of stabilizing the coin price to facilitate everyone to "wash trading" and earn transaction fees. · Sold 41.436 million Tokens on-chain at an average price of 0.07959 USD 5 hours ago, worth 3.298 million USD (there was also a previous buying activity, the purpose of buying and selling was to stabilize the stablecoin price) · Subsequently, added 9.27 million BR and 3.427 million USDT of bilateral liquidity to Pancake, currently earning $5,412 in fees over five hours (0.01% fee tier)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)