Arkham's new KOL Label tool tracks the wallets of cryptocurrency influencers to find out if they are actually backing tokens or participating in deceptive promotions and pump-and-dump schemes.
Arkham Intelligence has launched a new tool to track the wallets of key #cryptocurrency influencers in an effort to bring transparency to the industry. Key Opinion Leader (KOL) Label is an X (formerly Twitter) tool that allows key opinion leaders with more than 100,000 followers and tracks the wallets of cryptocurrency influencers. and track the wallets of influencers to find out if they really believe in the projects they are promoting or are just participating in paid promotions. The update comes at a time when #meme coins are rapidly gaining momentum.
The introduction of this tracking feature has caused a lot of controversy among crypto investors and traders. Proponents see the feature as a step towards greater transparency, making it easier to distinguish genuine investment recommendations from potential fraud. However, critics argue that the tool can be misleading, as many influencers use multiple wallets to avoid detection.
According to reports, nearly three out of four tokens backed by influencers fail, and their value can plummet in a matter of months. Within a few months, their value drops dramatically. Research has also shown that influencers with a large number of followers tend to promote tokens that perform poorly. This is due to the fact that many influencers allegedly sell assets in secret, receiving large fees for their promotional posts.
Confidence in the market was further eroded after a recent investigation revealed that several influencers are involved in a coordinated price manipulation scheme. Arcam's tracking tool allows investors to check if they actually own tokens promoted by influencers. If an influencer promotes a #token and then immediately drops it, it could be a red flag indicating a potential scam.
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New Arkham tool reveals cryptoinfluencer's wallet.
Arkham's new KOL Label tool tracks the wallets of cryptocurrency influencers to find out if they are actually backing tokens or participating in deceptive promotions and pump-and-dump schemes.
Arkham Intelligence has launched a new tool to track the wallets of key #cryptocurrency influencers in an effort to bring transparency to the industry. Key Opinion Leader (KOL) Label is an X (formerly Twitter) tool that allows key opinion leaders with more than 100,000 followers and tracks the wallets of cryptocurrency influencers. and track the wallets of influencers to find out if they really believe in the projects they are promoting or are just participating in paid promotions. The update comes at a time when #meme coins are rapidly gaining momentum. The introduction of this tracking feature has caused a lot of controversy among crypto investors and traders. Proponents see the feature as a step towards greater transparency, making it easier to distinguish genuine investment recommendations from potential fraud. However, critics argue that the tool can be misleading, as many influencers use multiple wallets to avoid detection. According to reports, nearly three out of four tokens backed by influencers fail, and their value can plummet in a matter of months. Within a few months, their value drops dramatically. Research has also shown that influencers with a large number of followers tend to promote tokens that perform poorly. This is due to the fact that many influencers allegedly sell assets in secret, receiving large fees for their promotional posts. Confidence in the market was further eroded after a recent investigation revealed that several influencers are involved in a coordinated price manipulation scheme. Arcam's tracking tool allows investors to check if they actually own tokens promoted by influencers. If an influencer promotes a #token and then immediately drops it, it could be a red flag indicating a potential scam.
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