TL;DR

• Chainalysis just published some data that suggests 54% of all tokens launched on Ethereum in 2023 were pump and dump schemes.

• If there’s some good news to take away, these pump n’ dump tokens only comprised 1.3% of total trading volume on Ethereum's DEX networks, which suggests most of these token launches fell on deaf ears.

Full Story

Permissionless networks that allow anyone to create a tradable digital currency in just a few clicks:

Pros — there are no rules or barriers to entry.
Cons — there are no rules or barriers to entry.

Chainalysis just published some data that suggests 54% of all tokens launched on Ethereum in 2023 were pump and dump schemes.

Say it with us now: ‘YIKES!’

(Not a great look for the industry).

But there is some (kinda) good news here:

These pump n’ dump tokens only comprised 1.3% of total trading volume on Ethereum's DEX networks, which suggests most of these token launches fell on deaf ears.

Stay safe out there folks!