Hi guys, it’s Alex again!

In the previous article, we shed light on the roles and position of the actual leading players when trading QATAR 2022 TOKEN (FWC) and it turns out that after Market Makers had dumped a great deal of FWC into the market, this project is now mostly based on the community to develop. Perhaps, there will be a price adjustment for FWC to hit new heights in the near future concerning the 2022 FIFA World Cup looming. Today, let’s dig deep into another significant indicator to learn more about the trading volume of QATAR 2022 TOKEN.

https://i.imgur.com/VNbi43i.png

This is the interface of the TokFlow Volume Tracking dashboard. The Chart Volume above illustrates the detailed volume of Qatar 2022 Token including the total volume, real volume and fake volume by weeks. It is noticeable that on 23 September 2022, the total trading volume of FWC skyrocketed to more than 60 quadrillion (equivalent to over $8M), which is 12 times more than last week. It’s also important to note that during this time, the fake volume of FWC outnumbered the real volume.

After hitting the peak in just a few days, the total volume of transactions of FWC dropped sharply to only 2 quadrillion (equivalent to $250K) with the real volume and fake volume following the parallel trend. In light of these metrics, we can come to a conclusion that a great number of bots have been actively involved in FWC. The substantial fake volume along with enormous growth in a short time frame indicate that this is a pump-and-dump token with the interference of Market Makers.

Now let’s move to the Balance on Exchange chart which shows the volume of Qatar 2022 Token on both CEX and DEX by days:

https://i.imgur.com/qfsbac6.png

From this chart, we can see that the volume of FWC on both CEX and DEX has an upward trend. Most Qatar tokens are traded on some reputable centralized exchanges namely Gate.io, Mexc.com, BitMart, and Hotbit. It’s observable that this token is only listed on one decentralized exchange - PancakeSwap. With moderate but steady increase, it’s proved that there is a relatively good trading volume for Qatar 2022 Token on DEX as well as a demand for this token.

In comparison with CEX, we can see that BitMart is a remarkable exchange owning the most tokens with Wallet 2 receiving a huge amount of FWC. However, I noticed a sudden gain in the volume of FWC on CEX in a short period from 9 to 18 October when it increased from 0.55% to 0.85%. This reveals a high probability of FWC being dumped on a massive scale as well as traces of price manipulation from MM.

https://i.imgur.com/BeT53oM.png

Taking a look at the Long-term and Short-term Holder chart, it is apparent that the amount of Qatar 2022 tokens held by Long-term holders is relatively considerable, accounting for about 14% while the amount of tokens belonging to the Short-term group only makes up 0,1% of the total supply. However, on 30 October 2022, the token balance of both witnessed such a rapid fall as it came back to zero, which means that the FWC army had dumped all of the tokens they held for a long time into the market without leaving anything in their wallets and showed no sign of accumulating more at the moment. This can be a negative indication for Qatar 2022 Token due to the fact that both long-term and short-term holders see no potential in this Fan Token.

After all, Qatar 2022 Token is a token created for Qatar football lovers as a way for fans to support the club. It's pretty much the same as a meme coin in the market which mostly relies on the news related to the improvement of the token use case. Considering its minimal utility, the potential price growth is not high since it depends on the popularity of the club and the use of the token itself in the future. As I’ve analyzed and tracked its volume of transactions, this Fan Token shows some signs of a pump-and-dump scheme. So if you’re planning to invest in any type of Fan Token, it’s of utmost importance to do your own research into the roadmap and utility of that token as well as tracking the on-chain data to identify the real and fake volume, thereby making informed decisions. This is when TokFlow AI comes in to give you an edge.

That’s the end of Alex’s on-chain analysis of Qatar 2022 Token. Let me know what you think in the comments section!

Welcome back to Alex’s on-chain analysis.

Recently we have witnessed the rise of Fan Tokens related to the football teams on Binance. One of the most outstanding examples is Qatar 2022 Token, named after the football team in the upcoming World Cup, scheduled to be held in Qatar at the end of November this year. Especially on Pancakeswap, we can see the increasing development of this token with massive gains in such a short time. So is this project creditable or just another scam? What really drives the value of this token? Let's explore the answer with Alex! As usual, I will utilize TokFlow AI to analyze the token price movement along with the money flow of the actual major players in the networks.

In the first place, let me guide you through the Trending Soon dashboard at TokFlow homepage which enables you to partially predict the market trend by finding the most popular cryptocurrencies that people are searching for.

https://i.imgur.com/qXQNJMB.png

It is obvious that Qatar 2022 Token (FWC) is currently on rank #4 in the Top Trending Gainers, which means that it is likely to increase in price within 1 week. However, one of its major drawbacks is not being listed in the top 10 tokens in the Trending Soon. Probably, in the near future, the FWC price might not make a strong upward move. Nevertheless, the team’s performance in the upcoming World Cup can be one of the deciding factors that greatly influence the token value.

https://i.imgur.com/rve3OBO.png

As you can see from the Overview dashboard above, the current live price of Qatar 2022 Token at the time of writing is around 0.000000000111, which is down more than 6% in the last 24 hours. More importantly, according to the TokScore, the Qatar token only gains an “Average” score of 38 based on a 100-point scale, which is quite close to the “Poor” level. Based on the metrics compiled by TokFlow Analyst, we can clearly see the weakness of Qatar 2022 Token with little likelihood of an increase in price in the near future.

In the following part, I’ll be taking an in-depth look at the behaviors of Smart Money wallet to see its role in influencing the price of Qatar 2022 Token:

https://i.imgur.com/v3sMP0z.png

It is evident that Smart Money has played a large part in determining the price of FWC since the token was first launched in February 2022. In just one month after its release, the FWC price suddenly skyrocketed from 0.0000000000080 (10 Feb 2022) to an ATH of 0.0000000042361 (10 Mar 2022). During March, we also notice an abnormally large buying and selling volume of almost 600K from Smart Money wallets. Beyond doubt, Smart Money mostly participated in the pricing process as well as manipulating the market by pumping and dumping the token at the same time.

In Q2 and Q3, the FWC price kept moving sideways until Smart Money stockpiled a small amount of tokens up to 18K on 17 Sep 2022, which pushed the price to 0.00000000249, and then quickly sold them out. As such, the value of Qatar 2022 Token was greatly driven by Smart Money’s pump-and-dump scheme.

https://i.imgur.com/MlzT00o.png

Looking at the Smart Money Asset Percentage Chart, we can see that this wallet is now holding almost 83% of Qatar tokens with a total asset of over $578K, a modest number. It is interesting to note that the Total Value Out ($6M) is larger than the Total Value In ($5M), which shows that MM had dumped such a huge volume of tokens into the market without leaving anything in the wallet.

https://i.imgur.com/AIJH727.png

Tracking the data from Profit/Loss Average, I spot that most of the major players in the networks have enjoyed such a high profit from investing in Qatar 2022 Token in the last 1 month, except for a slight loss from Smart Money and Retail Investors wallet cluster between May and August 2022. In particular, Devs and Funds wallet was 100% profitable without any loss, which shows that they are likely to dump the token if there is a spike in price.

Now, let’s pay a close attention to the Holder Tracking dashboard:

https://i.imgur.com/yKZAl2C.png

While Smart Money is only holding 9.84% of FWC, the other key players including Devs & Funds, Whales-Sharks, and Retail Investors appear to be the biggest holders with the current asset being over $1M. This suggests that the community is taking keen interest in the Qatar 2022 token as they gain a high profit when investing in this token. With these factors in mind, it can be deduced that after the strong dumping force of MM, the project is now based on the community to develop. There are chances that the leading players apart from Smart Money will wait for a price adjustment in the near future to dump the tokens.

Obviously, this is the hottest time for football token projects to bloom and the value of their fan token cryptos will rise in the run-up to the event. However, it’s highly recommended that you should do your due diligence before making important investment decisions. Of course, in the end the decision is still yours. Good luck and see you in the next article!

Welcome back, Alex’s readers!

In the previous article, we analyzed how market leaders including Market Makers, Shark-Whales & Dev & Funds set up the game using TokFlow's Shark Analyst and Holder Tracking features.

Continuing the SANTOS token analysis series, in this article we will use two dashboards - Profit/Loss Average and Volume Tracking to observe the next movements from SANTOS traders. Let's get started!

https://i.imgur.com/CWlNvPh.png

https://i.imgur.com/K47j95B.png

According to TokFlow’s latest updated data, in the past 2 months, all SANTOS investors in different positions are profitable at least above 100% considering the current token price of $11.4. Notable losses were scattered from May to August as you can see in the clusters of charts “Profit/Loss in real time” on your right . Only Shark-Whales wallets experienced slight losses due to market fluctuations with the ratio 50:50 (the bar chart on the left).

In short, the profit coming from all 4 wallet clusters shows that all of them are long-term holders. Therefore, in Q3 there was only a small loss and while Q4 witnessed all profitable investments. All players are “diamond hands” with good position and entry. Holding SANTOS for a long time represents investors' expectations for the future development of this token.

Now let's continue with the next part by leveraging the Volume Tracking dashboard to see what's going on behind the charts as well as the latest happenings of SANTOS.

https://i.imgur.com/6Pw3STB.png

Taking a look at the Chart Volume that shows the detailed volume of tokens per week, we can easily see that the highest trading volume of SANTOS in Q4 was recorded on August 19, 2022 with Total Volume up to 280K tokens equivalent to $4.7 million. Right after that time, the SANTOS token experienced a descending trend and moved sideways steadily at less than 100K equivalent to $2.1 million.

Fake Volume only accounted for 0.008% of total trading volume, which indicates that the Market Maker team didn't meddle too much with pushing the price. Instead, the majority of transactions came from retail investors. The largest fake volume on record occurred on August 19 when SANTOS had a spectacular pump from $6 to an ATH of $16.50. Up to now, the price of SANTOS has dropped much from the peak and started the sideways phase.

According to the current sideways situation of SANTOS, perhaps we will have to wait for 3-4 months for some noticeable volatility in the market to take place. This is the time when holders should store assets in the form of stablecoins and closely follow market movements in anticipation of the latest news.

https://i.imgur.com/Jf2G5sk.png

Of the total supply of SANTOS tokens, 12.54% of them are being traded on Centralized Exchanges such as Binance, Gate, MEXC, etc., equally divided among different wallets. Binance is the exchange that owns the most tokens with 3 wallets including Hot Wallet 20, Hot Wallet 6 and Hot Wallet 7 respectively. The number of tokens on CEX suddenly increased on October 17, accounting for 12.5% ​​of the total supply.

The Decentralized Exchange possesses profound advantages in terms of transparency and security. The amount of tokens on DEX accounts for only 0.07%, a very small number compared to the overall. However, for that reason, it allows the DEX to have an exclusive advantage over the SANTOS token when it is only listed on PancakeSwap.

It can be presumed that Fan Token is affirming its position in the community when it is constantly listed on reputable centralized exchanges such as Binance, Gate, MEXC… However, this will potentially pose a risk of price manipulation and derive the benefits from investors. Also, the negligible amount of tokens on the DEX may not meet the needs of liquidity for the majority of investors, which results in the fact that most of them are flocking to CEX as an alternative. However, that it’s suddenly listed on CEX can raise the possibilities of a dump phase.

https://i.imgur.com/6oJsaF5.png

The amount of SANTOS tokens is mostly in the hands of long-term holders as these wallets hold 287K tokens that account for 1% of the total supply. The amount of tokens belonging to the short-term group accounts for only 0.01%.

In a nutshell, the above figures show that SANTOS holders have their own long-term profit goals and expectations in the future. Market Cap of SANTOS will be a relatively small number if it is in an uptrend. But for the downtrend, this is quite a large number when the capital released into the market is no longer as abundant as before.

After all, Fan Token is just a lottery coin created for the purpose of attracting cash flow into the market. So SANTOS token just serves as a refreshment for this crypto winter. If you decide to participate in Fan Token investment, then start with small capital and accept that it is possible to lose. Remember to have a plan for your investments before entering. Good luck!!!

Be sure to follow and support the next analysis from Tokflow!!!

Have a great day, Alex’s readers!

Let’s review a little bit about what we discussed in the previous part about the activities of Smart Money on Santos token. With SANTOS getting positive acknowledgement from the community in the context of the upcoming World Cup, Smart Money is also gaining a high profit of 163%. Although it’s undeniable that the influence of Smart Money contributed to pushing the price to hit the peak in such a short time span, the volume of tokens being held in the wallet is still limited.
In this article, I will give you the answer to the question if there is a high chance of the big cash flows dumping SANTOS token in the near future? Let’s discover more about the behaviors of the leading players in the network with Alex!

As you can see, the TokFlow Shark Analyst dashboard allows us to track the list of Sharks-Whales with detailed transactions of each wallet in the cluster. It is obvious that SANTOS isn’t highly regarded by Shark-Whales with only 4 players taking part in at the time of writing. Though not attracting too many Sharks, it is interesting to note that all the wallets are profitable more than 100%. The total volume of tokens held is in the range of 750-1000 tokens for each wallet. Despite the quite small investment volume, Sharks wallets are undeniably enjoying the profit at a good position in the market.

https://i.imgur.com/JVBPlSg.png

Let’s check the Shark 7614 wallet having 17 transactions in total with the highest profit of the list.

https://i.imgur.com/wRNW1UV.png

The above chart provides the information about the buying and selling volume of Shark7614 wallet at each price range in real time. In the last 4 months (June - Oct 2022), this wallet was completely inactive without entering into any transactions concerning SANTOS. However, it was seen mostly active during May 2022 when buying in a lot of tokens after the price dropped sharply at around $2.
Checking more details in the Transaction History section, I noticed that Shark7614 wallet only made consecutive BUY orders without selling out.

https://i.imgur.com/2nZRYit.png

The total assets in this wallet is currently worth only $10K with almost 86% of SANTOS being held. Moreover, the average buying price is approximately $4 while SANTOS’s current price is about $11, this Shark7614 wallet is reaping such a good profit of over 228%.

https://i.imgur.com/TvFqoU6.png

https://i.imgur.com/dSMNB2f.png

For the rest of the wallets, it’s noteworthy that they tend to accumulate quite a large amount of SANTOS tokens when the price goes down. Therefore, Shark wallets have achieved an ideal position when buying the tokens at the prices ranging from $4 to $7.

Now let’s take a look at the Holder Tracking dashboard below:

https://i.imgur.com/3FQohwG.png

There are some fundamental metrics we can view from these 2 charts:
86.43% of total token supply is held in Dev & Funds wallet worth $293M
0.82% of tokens are in the hands of Retail Investors worth over $2M
Whales-Sharks and Smart Money wallets are holding the least tokens (only 0,02% and 0.14% respectively)
These metrics indicate that Whales-Sharks and Smart Money wallets will not dump SANTOS tokens on a massive scale since they are holding only a small volume compared to Dev & Funds wallets. The asset percentage of Retail Investors also shows that the community is taking interest in investing in this Fan Token.

https://i.imgur.com/7rsKi03.png

A closer look at this chart reveals that there was a concentration of Sharks-Whales wallets from September 24 to October 12 with signs of accumulating a large amount of SANTOS. This was the time when the token price gradually decreased. Therefore, I suppose that in the upcoming time, Sharks-Whales are likely to continue to collect more tokens in anticipation of a strong bull run. Further down, you can check detailed information about the amount of root tokens in possession of this wallet cluster.

https://i.imgur.com/jc2AWdR.png

As shown in the chart, the current SANTOS balance in Sharks-Whales wallet is approximately 42K tokens. More importantly, the most noticeable behavior of Sharks-Whales wallet is that the amount of Stablecoins they were holding suddenly increased to nearly 30M USD on October 22. On the very next day, it was reduced to just 134K USD. In a nutshell, Sharks-Whales are having a great entry when trading SANTOS, so they hardly dump the token until it rebounds.

https://i.imgur.com/NV16czx.png

Tracking the metrics about Smart Money, I can see that the this wallet only held a small amount of SANTOS tokens from the end of September to the end of October 2022, ranging from 1,2K - 2,5K, except for the highest SANTOS balance of over 6K tokens (equivalent to more than 9M USD) on October 11. Hence, now I can give you the answer to the question discussed in the previous article that there is little likelihood of Smart Money wallet dumping the tokens in the upcoming time since the volume of tokens it’s holding currently is not big enough.

https://i.imgur.com/zPppSQQ.png

Last but not least, it's such a pity not to mention the key player in this game - Dev & Funds wallet. As you can see in the chart, the buying time of this wallet is almost concurrent with the selling time. By holding a huge amount of tokens, Dev & Funds are undeniably taking part in the pricing process of SANTOS to manipulate the market and pump the price to reach a peak of 25.2 on September 24.

In conclusion, the most leading players in the networks seem to hold SANTOS tokens with the expectation of a better entry in the near future. Specifically, Sharks-Whales and Smart Money wallets only consider Fan Token as a meme coin, so the number of tokens held is not too large and the dumping force is not as strong as you may think. It's crucial for these wallet clusters to wait for a price adjustment to accumulate more. However, considering its profits, I think it is still a potential Fan Token, especially in the upcoming World Cup season.

Hopefully you can gain more insights with this analysis. And don’t forget to leave comments for Alex!

Hi Alex’s readers, how’s everything today?
As part of the series analyzing the list of Fan Tokens, I will provide my dearest readers with information about Santos FC Fan Token (SANTOS) - one of the Fan Tokens that has gained popularity in the market in recent days.
Compared to LAZIO, SANTOS is in a fairly high price range at 13.3 (about 4 times higher than LAZIO).

https://i.imgur.com/CuGLJNG.png

Going through some information from the TokFlow Overview interface, SANTOS is showing quite a positive signal when the current TokScore is 61/100 with 75% of $SANTOS community making predictions that it will increase in the future.
I will elaborate more on the Tokscore index which is calculated based on the metrics of Real Volume (30%), Source (30%), Price change (20%), Number of holders (15%), and other social metrics such as the increase in interaction on networking sites, the number of followers and subscribers (5%), thereby scoring the token's strength/weakness based on a 100-point scale. For $SANTOS, the score is in the range of "Average”, in close proximity to the “Good” level. This shows the potential of a bullish trend for this token.
With such a pretty good index, it’s worth noticing how the big and small money flows regard $SANTOS?
As usual, we cannot ignore the significant factor that has the strongest influence on the token price - Smart Money:

https://i.imgur.com/Jgw0z5A.png

It can be seen that, for Santos, Smart Money was active only in the first 6 months when this token was listed on the exchange, and was highly active between March and May of this year:
With the highest buying price of $978K (March 11) and the highest sell price of $836K, Smart Money successfully pushed $SANTOS price from about 2.1 (late February) to 8.7 (March 12).
And once again, with the highest buying price of $817K (May 18), and the highest selling price of $856K (May 18), Smart Money also pushed the lowest $SANTOS price from 1.7 (May 16). ) to hit the peak at 6.7 (May 18) after only 2 days.
In this fourth quarter, Smart Money's activity was at a standstill. However, the token price increased quite high (reaching a peak of 25.2 on September 24, 2022), also during this time, the highest figure in Q4 was recorded for buyers were $158K (September 23, 2022); $151K (August 17, 2022) and $140K (September 23, 2022) for sellers. This proves that the community is quite interested in $SANTOS, so there is no need for MM to put too much effort in pumping the price.
This can be shown in other Smart Money metrics:

https://i.imgur.com/E8jgv7r.png

Buy orders scattered from $19,000 to $20,500. The largest buy order executed was worth $20,377 from wallet 0x08493d163de902cd289ae51406fe4ec8385634d2.

https://i.imgur.com/P9VM9wE.png

Sell orders scattered from $10,000 to $31,000. The largest sell order executed at $31,012 coming from wallet 0xa38c28f8049d95a0ef025cfbd3a2bff6ab2692c9.

https://i.imgur.com/Nhwm8OV.png

Total assets of Smart Money wallets are currently worth $716K, a modest number. There’s only 2.92% holding SANTOS, while the Total Value In is $20.9M, and the Total Value Out is $20.3M. This indicates that MM has transferred most of the cash flow and left only a relatively small amount in the wallet.

With the average buying and selling price of SANTOS tokens ranging from $8.6 - $8.5$ and a very high profit of 163%, it is very likely that Smart Money will dump if there is a strong $SANTOS bull run coming. However, how massive the sell-off is depends on the volume of tokens that Smart Money holds. Holding a quite small volume at the moment, it’s necessary for Smart Money to have a strong adjustment to accumulate a large volume of tokens as well as ensuring its control of the community.

So, which situation will be more likely to take place, especially in the context that the community is giving a lot of favor to the SANTOS token. Will Smart Money wait for a strong adjustment to accumulate more or will the price pump greatly for MM to dump it? The answer will be found in the next article. Stay tuned with Alex!

Hello my dear readers,
It’s Alex as always. Today, I’m back with my analysis of Fan Token LAZIO. If you have not read the first two parts of the series, then check them out here:
Part 1: https://alextokflow.substack.com/p/how-smart-money-influenced-lazios?utm_source=profile&utm_medium=reader2
Part 2: https://alextokflow.substack.com/p/is-lazio-highly-regarded-by-sharks?utm_source=profile&utm_medium=reader2

In the previous articles, I showed you the portraits of Smart Money and Shark-Whales, the two subjects that have the greatest influence on the price of a token. In fact, these subjects have a lot of risk factors that affect the token price. Taking the profit/loss ratio of each wallet cluster for example.

https://i.imgur.com/oRYcPrV.png

This is the interface of the Profit/Loss Average feature of TokFlow AI. The bar chart on the left demonstrates the percentage of the number of wallets with profit/loss in the cluster, while the chart on the right shows the profit/loss period of each wallet cluster in real time.
It is evident that Smart Money was greatly profitable from September 14 to October 10. Currently, it witnesses a slight loss and the ratio of the number of Smart Money wallets in profit and at loss is equal at 50%.
Dev & Funds is losing and holding tokens. I don't see any signs of dumping from this wallet cluster.
Sharks-Whales and Retail Investors both showed evidence of modest profits in September, but the majority was in deficit. It seems that these two subjects are buying high. It is common knowledge that if the price spikes, there is a great possibility that they will sell out. However, to be absolutely certain, we have to see how many tokens the subjects are holding.

Now let’s go to the Holder Tracking dashboard:
 
https://i.imgur.com/ZZNCnEE.png

It can be seen that Smart Money, Sharks-Whales and Retail Investors do not hold too many LAZIO tokens, so the dumping possibility of these wallets is not high. I suppose that in the coming time, the LAZIO price will have a much lower adjustment. It will be the time when Sharks-Whales and MM accumulate rapidly, then the price can rise again.
Dev & Funds wallet is currently holding a lot of tokens in smart contracts. However, as I check, they are locked and not released. And 13% of “OTHER” needs to be checked on bscscan.com.

https://i.imgur.com/X7NdNwW.png

After checking bscscan.com, it turns out that 84% of the tokens are locked in the smart contract, the last time it was unlocked was 34 days ago. In addition, I also noticed that the amount of tokens circulating on the DEX is very small, most of the tokens are circulating on Binance (the rest are locked in the contract).
So I can come to a conclusion that the MM team mostly focuses on pushing the price on Binance, but it’s obvious that Smart Money on DEX is still very profitable. This proves that we can follow Smart Money through TokFlow (tracking all on-chain data) to make investment decisions because we are actually unable to track all data on Binance.

https://i.imgur.com/2qQX5s1.png

We can see that in the rising price phase, Smart Money is the subject that gained a lot of profit especially when the market hit its peak, which means, at the highest price stage, Smart Money made a lot of take-profit orders while the rest made very little.
Before making an investment decision, I think besides in-depth study of important indicators of strong cash flows, and Profit/Loss of each subject, investors should not ignore some  other indicators to evaluate a project.

Let's take a look at LAZIO's trading volume:

https://i.imgur.com/uJqtheJ.png

The Chart Volume displays the volume of transactions on the DEX. Usually, this information is missing or incorrectly aggregated on Coingecko or CoinMarketcap, so the TokFlow team has summed it all up in the Volume Tracking feature. It is noteworthy that Lazio has very few bots in transactions as well as fake volume.

https://i.imgur.com/92BamCI.png

Comparing October 13 and October 18, we see that there were a lot of tokens transferred to Binance. A closer inspection reveals that the token was heavily transferred to Binance Hot Wallet 6 and Binance Hot Wallet 20.

https://i.imgur.com/8Vif7ZG.png

One more indicator about Long-term and Short-term Holder shows that Long-term holders are holding 118k $LAZIO, accounting for 0.3% of total supply which is relatively negligible.

So going through 3 articles about $LAZIO with detailed tracking of on-chain data, Alex can draw several inferences: LAZIO Fan Token is a trending project that is still being nurtured by developers without too much promotion since most of the tokens are still being locked by Dev. Therefore, the number of Sharks-Whales, or Retail Investors participating in the project is still limited with a lack of investment. However, in the context of the upcoming 2023 World Cup, this is still a quite potential token with a likelihood of an increase in price in the near future. And before that time, it is possible that there will be a price adjustment to clear the way for the investors to accumulate more tokens.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice. To conduct an in-depth research into the on-chain indicators of LAZIO or other tokens that you are interested in, you can use TokFlow AI - a robust tool that Alex and the TokFlow team brought to the community.

And as usual, if you have anything to share, please let Alex know in the comments!

Hi there, Alex's readers!
Today I’m back to continue with the analysis of the project in the Fan Token category - LAZIO. In the previous article, I explained about Smart Money - a smart cash flow that has a strong influence on the price of tokens. The transactions of the Smart Money wallet cluster are mainly supposed to coordinate and affect the token price by buy/sell orders, so the characteristics of this wallet cluster are the high asset value (nearly 2M USD in total), the large number of tokens held (nearly 17K tokens) and especially the huge number of trading orders (up to nearly 80K transactions).

https://i.imgur.com/jm6DGD8.jpg

In this article, I will delve into a type of cash flow that also affects the price of tokens, which is the cash flow from Sharks-Whales wallet clusters. Unlike the Smart Money wallet cluster, the main purpose of Sharks-Whales is to invest/speculate and make profit. Therefore,  Sharks-Whales usually do not trade too much. Instead, they invest in tokens when they see their potential. They can hold for a long time and only sell when they have achieved their goals of profit.

Let’s take a look back in the chart showing the buying/selling amount of Smart Money in the previous article, every time Smart Money executes a lot of buy and sell orders simultaneously, the token price suddenly increases very high. Compared to the chart showing the buying/selling amount the of Sharks-Whales, it is noticeable that  Sharks-Whales only buy after the token price has dropped sharply,  and sell as soon as the token price spikes:
 
https://i.imgur.com/4bU1ECQ.jpg

In financial markets, it is pivotal for investors to study the signs and behaviors of large cash flows in order to seize opportunities and minimize investment risks, which is especially true for beginner or retail investors.
By using TokFlow AI, I compile a list of LAZIO's Shark-wallets:

https://i.imgur.com/Ub3MN5u.png

From the dashboard above, we have specific information of the Shark wallet list such as wallet name, total number of transactions, number of tokens they hold and the percentage of profit/loss of each wallet. It can be assessed that LAZIO does not attract too many Sharks-Whales to invest, as of now in October 2022, only 8 Shark wallets are holding LAZIO tokens and Shark's investment volume is also quite small. Of the 8 Shark wallets, only 2 are profitable, the rest are at negative profits.

As I check the Shark07b0 wallet which holds the largest number of LAZIO tokens, there are only 4 transactions.

https://i.imgur.com/fMrYT9l.png

In the chart on the right, we can track BUY/SELL transactions of Shark07b0 wallet at each price range, the most recent activity is the BUY order on 25 Sep 2022. For more details on the transactions of this wallet, I check the Transaction History dashboard: 

https://i.imgur.com/yubZnj6.png

On 25 September 2022, this wallet made 3 buy orders and 1 sell order. So I continue to go deeper to check the details of each transaction. The total volume for 3 consecutive buy orders of this Shark wallet is 1003 LAZIO tokens and there was a very small sell order execution worth only $21:

https://i.imgur.com/YVWQ6mj.jpg

With an average buying price of around 7.3 and with LAZIO's current price of 4.88, this Shark07b0 wallet is losing 34%.

https://i.imgur.com/Zjc8HpA.png

After checking the remaining Shark wallets, I can come to a conclusion that these wallets share the same feature when spending a very small amount of money to buy LAZIO tokens (several thousand dollars) and executing test sales orders soon after that.
In comparison with other wallet clusters, it is interesting to note that 87.64% of the tokens are still in Dev & Funds wallets. There are even fewer tokens in Sharks-Whales wallets (0.11%) than in Retail Investors (0.14%), and Smart Money wallets only own 0.01% of LAZIO tokens.

https://i.imgur.com/DmPidT0.png

https://i.imgur.com/ycqR6Xk.jpg

It can be seen that for this project, the Sharks-Whales have only taken a bite of the pie just to test and investigate. Still, they are expecting a better price and show no sign of accumulation desires at this time.
So, if you are an investor who is interested in the LAZIO token, how will you make your mind up? Let’s share your thoughts in the comments section below!

Good day guys, I'm Alex. As I’ve shared, today I will begin a series of pump-and-dump analysis of hot projects and tokens during this time. And the beginning of the series will be Lazio Fan Token. The whole world is eagerly awaiting the World Cup and Fan Token is the top target for price pumping. So there we have it - an analysis of LAZIO.

The purpose of this article is to analyze the performance of Smart Money cluster by utilizing TokFlow AI and the role of this cluster in the pricing process of LAZIO tokens.

First of all, for those who are new to crypto space and on-chain analysis, Smart money refers to wallets with unusual behaviors that greatly affect the price. It details what they are holding and where they are transferring their capital. In brief, it refers to trading or investing in crypto entities that are considered experienced, well-informed, or "in the know".

Upon accessing the Smart Money dashboard, we can see:
https://i.imgur.com/AgKMI2W.png
Source: tokflow.org

This chart shows the LAZIO buying/selling volume of Smart Money clusters at specific time and price range. You may have noticed that every time the Smart Money wallet buys/sells a large volume, the price of the token increases quite sharply.

For example: On 4 Dec 2021, the total buying price of Smart Money was 1,035M USD, the total selling price was 808K USD (buying is larger than selling), which caused the token price to go up to 95.61%, starting from the lowest price of 3.85 to the highest price of 7.6. And the very next day, Smart Money continued to buy a volume worth 827K USD, pushing the price to the highest of 8.59. However, selling over 1M USD made the price drop as low as 6.01.

https://i.imgur.com/UreEBII.png
Source: tokflow.org

Currently, the buying/selling volume of Smart Money is relatively large from the beginning to the end of August, the average transaction value per week is between 700K and nearly 1M USD. Meanwhile, the price also increased from the lowest of 3.3 to the highest of 9.1. And there are signs of a gradual decrease in the value of trading volume starting from the end of August until now, the weekly buying/selling price decreased from 300K-400K to only about 60K. Accordingly, the price of LAZIO also gradually reduced to the lowest level of 5.4.

Hence, we can see the role of Smart Money wallet clusters in the price of LAZIO. Investors can also rely on the unusual buying/selling signals of this wallet cluster to create a reasonable investment strategy.

To be more specific about the activities of each Smart Money wallet, I will analyze the 2 dashboards with the top buying and selling orders of MM in the screenshots below.

https://i.imgur.com/tQmksbn.png
Source: tokflow.org
 
https://i.imgur.com/d2Hbu1d.png
Source: tokflow.org

According to this dashboard, the wallets with the biggest buyers are concentrated in wallets 0x53312c0d00adadb6cc217d6b9335a952c3064f4e and 0xa26c6be0770a1c62df74e6195b774c50aa3fdeed, accumulating wallets; and the wallet with the biggest selling transactions 0x64c9768db394c38700b7fa425f91659c60038aae, known as dumping wallet. You can check the details of each transaction at https://app.tokflow.org/smartmoney/0x77d547256a2cd95f32f67ae0313e450ac200648d

https://i.imgur.com/WX7glsZ.png
Source: tokflow.org

The bottom of the Smart Money dashboard shows the Asset Value Percentage of Smart Money wallets. From this chart, it can be seen that LAZIO volume accounts for a very small proportion of the total asset value of more than 1.7M USD of Smart Money wallet cluster (accounting for only 1.17%).

https://i.imgur.com/PSypAFv.png
Source: tokflow.org

Although the LAZIO’s average buying price of the SM wallet cluster is 5.63 and its average selling price is 5.7, the profit rate of Smart Money is negative 3.49%. It is possible to deduce that the Smart Money wallet at the moment does not hold too many tokens and at least the wallets will not dump massively. There may be an adjustment for Smart Money to accumulate more tokens!

So that's the perspective of Alex, how about you? Let’s share in the comment section!

The End of the Pump Phase and Communication Handling

Hi guys, it's Alex from TokFlow again! In the previous section, I analyzed the RACA's steps to pump the prices and how market makers manipulated the community with media tricks. In part 2, I'm going to shed light on the end of the whole pump phase with a lot of striking evidence and most importantly how Radio CACA handled the media in the post-pump phase from the beginning of this year till now. After going sideways for about 2 weeks at the price of 0.003-0.004, the development team rapidly set RACA price at an unexpected ATH level.

1. To the moon
On November 8, RACA proclaimed it would develop the Cyber Security Training Centre inside USM, an office located near SpaceX's headquarters. Besides, RACA also organized the airdrop program of 300 eggs and 10,000 DAU Milestone – an extremely valuable gift on the occasion of the project announcing a series of fascinating information. The community became so thrilled that the number of people joining the project had shot up. The developers continued to pamper the "contentment" of the community by announcing the burning of 300 million RACA and another 200 million RACA airdrops to all MPB owners on the same day (November 12, 2021).

Two days later (November 14, 2021), RACA price successfully reached ATH at 0.0119888 in the tremendous excitement beyond suspicion of the community. Do you still remember the lowest price of RACA just about 7 months ago? Within more than half a year, developers had successfully pumped the price of a low cap coin 630 times higher.

2. A mass of evidence that MM pumped and dumped token
Some may wonder that RACA has developed comprehensively in terms of both marketing and project, so the sharp increase in RACA prices is entirely driven by the power of the community without deliberate manipulation? Our TokFlow team has developed an AI that tracks hundreds of MM wallet labels with total transactions worth tens of billions of RACA, and here is the proof:

https://www.linkpicture.com/q/Image1-p2.png(Click here for more information: TokFlow Channel)

This is a small portion of MM wallet labels that we collected, as you can see, the above wallets all hold a substantial token volume that can completely manipulate the market. Throughout the entire pump phase, MM wallets are constantly buying in large quantities of RACA and selling very small quantities, with a view to pushing up the prices and simultaneously taking advantage of these MM wallets to fake market volume by buying and selling at the same time a very large number of tokens.

I really take my hat off to the marketing and project development strategies of Radio CACA's team. A perfect plan without a bit of a loophole or suspicion from the community, and the ATH price (0.0119888) that the developers chose to fake is also a pretty nice number to make them satisfied and move on to the next phase - Dump.

The question is how they pumped the token without shocking the market, or making the community criticize and boycott the project when using a lot of big names to PR for it. In fact, those wise whales and market makers never wait for a spike in price to start pumping. Instead, they gradually dumped while pumping the price without making the community notice.

I'll take the example of a wallet address with suspicious performance which is called wallet A: 0x9e8451158086ba066d93c11d8d4b6e1969bcbc8d:

https://www.linkpicture.com/q/Image2-p2.png(Synthetic data by TokFlow AI)

According to TokFlow analytics, wallet A received money from Dev on September 7, 2021. Therefore, I suspect this is a wallet label controlled by the Dev team.
To clarify this, I also checked the source of the wallet label 0xc99e4e934f1ddd2e3e03ffe38fe862ab5d6139be transferred to wallet A on August 24, 2021. Not surprisingly, it turned out that the amount of RACA also came from Dev, then it was broken down and transferred to a lot of other wallets:

https://www.linkpicture.com/q/Image3-P2_3.png(Synthetic data by TokFlow AI)

So after receiving token from 2 sources of Dev, wallet A held the token until mid-October and began to make a lot of orders transferring the token:

https://postimg.cc/t7hZScvs(Synthetic data by TokFlow AI)

I will randomly view a transaction of wallet A transferred 200K RACA to the wallet 0x241ab55768da608196f4cd2d63f5dbc07415b1a2 on October 7, 2021 to see the real purpose of this transaction. Here's what I found:

https://www.linkpicture.com/q/Image5-p2.png(Synthetic data by TokFlow AI)

From this I came to the conclusion: wallet A received a large number of tokens from Dev's sources then made a lot of orders transferring money to other sub-wallets to place the sell-off orders, which shows a fairly obvious dump behavior of the developers.

During the tracing process, the TokFlow team tracked down how the developers erased the trace of the token’s origin by pushing the token to the exchange, then transferring the token to another wallet address that "only God knows" whether it was a real user wallet or Dev wallet. But nothing can cover the eyes of the community or TokFlow AI, I will give you an example of another wallet label:
(0xe4850258b8699bbd7b1cb337b6023c6b979e5808)

https://www.linkpicture.com/q/Image6-p2.png(Synthetic data by TokFlow AI)

The aforementioned is a regular wallet label, but could it receive tokens simultaneously from both exchange and Dev? This is the proof that the Dev team could transfer money to the exchange, and then wipe out the trace by transferring to another wallet and transferring a few rounds to many other wallet labels to dump. My team - TokFlow has counted hundreds of wallets with similar transactions which indicate that the number of tokens dumped to the community was not negligible at all (in particular, these wallets showed signs of dump when the project had good news). In addition, it is also easy to notice the behavior of Dev breaking down the tokens into wallets and staking for rewards. Here's a similar example of how much money Dev spent on farming:

https://www.linkpicture.com/q/Image7-p2.png(Synthetic data by TokFlow AI)

I just showed you how Dev dumped the tokens. However, the number of tokens in Dev wallets is only a small portion. When I learned that Devs could erase traces by pushing tokens to the exchange and then withdrawing from other wallets, I had my TokFlow team review all the wallets receiving money from the exchange and dumping continuously from the moment the price started to be pumped sharply from the end of October to the end of December. Here's part of what TokFlow found:

https://www.linkpicture.com/q/Image8-p2.png(Click here for more information: TokFlow Channel)

All of the above wallets show suspicious signs of receiving billions of RACA from the exchange and then selling in equal amounts. I will check for you wallets that have dumped more than 7.5 billion RACA:

https://www.linkpicture.com/q/Image9-p2.png(Synthetic data by TokFlow AI)

Take a look at some of the highlights from this wallet address 0x431731d312dffa688a37d81af8874a58776eacfd as follows:
- The wallet had a total of 32865 transactions since 24/09/2021 (when the project had boosted pricing for more than 1 month) until now. The wallet had the most transactions at the end of October until mid-November 2021 (when the project consecutively reached new peaks)
- The wallet received the total number of 8,934,803,024 RACA from the exchanges, sold 7,509,388,951 RACA, the remaining number of 1,425,414,073 RACA was transferred to other wallets, the current number of tokens in the wallet was zero.
- The total transaction of the wallet includes:
+Source of tokens in: 2 exchanges (PancakeSwap and Gate.io) or some other wallet addresses such as: 0x98e8f871d814bfc5506b6cd4abeb3d05f809f8c5 (the source of money from this wallet address also came from the above 2 exchanges)
+ Source of tokens out: in 2 ways: either sold right on PancakeSwap, or transferred to some wallet address, e.g.
=> 0xb023d7f5aabd97b41b367a74c8e09cfa34a97702
=> 0x972c69d9d0af1bc888fee3efa15753f531046710
=> 0x39bd1ae0c8f3387905684913dc84f34e18a1654a

So where will the tokens received from the above wallet addresses go?

https://i.postimg.cc/qM03gJNn/Image10-p2.png
https://i.postimg.cc/6qHt9f7M/Image11-p2.png
https://i.postimg.cc/jqvsQt8y/Image12-p2.png(Synthetic data by TokFlow AI)

=> As such, they continued to be pushed onto Gate.io or Mexc.com exchanges. And as analyzed above, this is a form of token erasure used by developers or market makers to make MM wallets up as regular user wallets that blinds the community. And with just one wallet label, the market makers have successfully dumped nearly tens of billions of tokens, so with the list of hundreds of wallets we found, the number is truly mind-boggling.

3. Handling of community crisis in post-dump phase
I know that, up to now, RACA has been quite successful as the rest of the community of the project is still having a lot of faith in the development team, with the belief that this is just a stage of technology adjustment and upgradation, and one day they will reclaim.

But just wait and see ‘cause who knows. The keyword that TokFlow and I want to show you here is "faith." The simplest way for a pump project to handle a community crisis when the tokens are divided too many times is to give the community conviction. By various methods, the developers won't let the project die suddenly. On the one hand, market makers will gut the project slowly, making the project more and more dumped. On the other hand, the marketing department continues to appease the community, creates things for the community to see the relentless efforts of the Dev team, and the project is still constantly developing. Well, that's exactly what Radio CACA has been doing and continues to do.

In the previous section, I used TokFlow AI to analyze how MM and Dev dumped the tokens, and in terms of communication, immediately after reaching the ATH level, the inevitable consequence of a series of pump orders is that the RACA price is constantly falling and has divided 10 in just over 1 month to only 0.00185 (December 12, 2021). The community panicked, and lost their faith. At this time, the developers tried to appease the community by holding a round 2 MPB sale on RacaNFT on November 19 and ended in less than 2 minutes. This indicates that the community is so optimistic that they see it as an opportunity to buy the dip. RACA manipulates the community trust with a series of news that offers hope:
Burn 10 billion RACA in December
+ GiveAway more than 100k RACA for holders
+ Continue to release USM Land Mystery Boxes (sold out in 3 minutes and 45 seconds).
+ The token price was pushed back to 0.0047 on December 23, 2021, and dropped continuously for the next month to 0.0018 until January 22, 2022.

I suppose, at this time, the dump phase of the developers is almost complete. However, the game of cat and mouse is not over. RACA continued to perform Pump and Dump on the tokens for the next 2 months to maintain trust in the community and "suck the blood" as much as possible.

In late January and early February 2022, RACA's media buzzed with news:
+ 30/1/2022: The Blockchain Association of the University of Cambridge partnered with Radio Caca (RACA) to build education in the Metaverse world "Metaverse + Education", Empowering Education Reform, Promoting Educational Equality.
+ 3/2/2022: The transaction fee on the NFT market was reduced to 3%.
+ 6/2/2022: 📢 Turkey 🇹🇷 Government 🏛 announced it is actively looking into the Metaverse. At the same time, the MOST widely-distributed and famous local press & newspapers 📰 in Turkey are highlighting all great things about #RACA @USMverse

The RACA price at this time increased continuously to 0.0025. Then, it was slowly dumped to 0.001.
On March 28, 2022, the developers announced an airdrop of 680 million RACA market fees for all MPBs. This served as the last gift that market makers gave to the loyal communities at 0.0027 before the price continued to divide 9 more times until now.

https://postimg.cc/3kGkPbn4
Currently, the price is trading in the range of 0.0003-0.0004. Market makers continue to show their efforts to fix and improve the project's mechanism, while communities whose assets have been divided several times are still holding on to hope that one day the project will thrive again. I've noticed that there are still signs of Dev, MM or sharks collecting tokens in recent times:

https://postimg.cc/DJwjjsnZ(Click here for more information: TokFlow Channel)

This is part of the list of new wallets continuing to collect tokens, which is compiled by TokFlow. You can double-check the transactions on the BSC Chain. I don't know if this is good news for those who are still hoping for a rebound or it’s the doubt that RACA developers just quietly manipulate the market and will once again steer the RACA boat out to sea for some more fish?
I'm going to give this answer to the traders, but for me Alex and the TokFlow team - every trick can be exposed!
Want to analyze hot tokens? Let’s join our TokFlow Community (https://t.me/tokflowgroup) to make your suggestions! We’re glad to be able to help you!

4. 펌핑 및 덤핑 과정의 막판과 덤핑 후 미디어 처리
안녕하세요? 또 Toklow에서 온 아렉스다. 앞의 파트에서 펌핑의 과정 및 마켓 메이커의 여론 조작으로 커뮤니티 속인 방법을 알려드렸다. 이 파트 2에서 펌핑 및 덤핑 과정의 막판과 상상할 수 없는 증거들 그리고 무엇보다 Radio CACA가 올해 초부터 지금까지 덤핑 후의 여론을 처리하고 있는 방법을 밝혀드리겠다. 2주 동안 0.003-0.004 가격대에 보합추세를 보이다가 개발팀이 RACA 가격이 예상치 못한 ATH에 닿게 만들었다.
 
4.1 투더문

11월 8일 RACA가 USM에서  사이버안전트레이닝선테 (Cyber Security Training Centre)를 개발하겠다고 통보하며 SpaceX의 본사 근처에 사무실을 개설할 예정이다. 더불어 RACA가 300 알과 DAU Milestone 1만 개 를 airdrop 이벤트를 통하여 분배해주었다. 이 이벤트는 프로젝트가 흥미로운 정보를 통보하는 기념으로 진행되었던 가치가 있는 선물이다. 커뮤니티가 흥분해지면서 프로젝트의 팔루워 수가 급증하게 되었다. 개발팀은 당일 (2021년 11월 12일)  3억의 RACA를 버닝하며 모든 MPB 소유자한테 2억의 RACA를 airdrop 해주겠다는 통보로 커뮤니티의 기쁨이 이어지게 해주었다.

2일 뒤인 2021년 11월 14일에 커뮤니티가 의심없이 엄청나게 흥분한 분위에서 RACA가 0.0119888인 ATH에 성공적으로 도달한 것이다. 7월 전 RACA가 최저가로 내려간 것을 기억하시나요? 반년이 넘는 동안 개발팀이 시가총액이 낮은  코인 동전을 630배 성장하게 시켰다.

4.2 마켓 메이커의 모든 토큰 펌핑 -  덤핑 증거

RACA는 미디어 및 프로젝트 면에 있어서 완전히 발전돼 있어서 커뮤니티의 파워로 RACA 시가가 급등된 것이 합리적인데  조작 문제가 없지 않느냐고 궁금한 사람이 있겠지요. 저희 Tokflow 팀이 AI 하나를 개발해서 RACA 몇 십억짜리 트랜잭션을 처리했던 마켓 메이커의 지갑을 밝혀냈다. 증거가 다음과 같다.

https://www.linkpicture.com/q/Image1-p2.png(출처: Tokflow channel)

위에서 보이는 지갑 주소들이 저희가 발견했던 MM 지갑들 중에 아주 적은 수량인데 위의 지갑들에 어마어마한 토큰 수를 가지고 있으며 시세조정이 충분히 가능하다고 볼 수 있다. 펌핑하는 과정에서 마켓메이커가 대량의 RACA를 계속 매수했지만 소량의 RACA를 매도했다. 이는 가격을 상승하게 만들 뿐만 아니라 이 마켓메이커의 지갑들을 이용해서 같은 거대한 거래량의 토큰을 동시 매수-매도하는 것으로 거래량을 조작하는 목적으로 한다.

Radio CACA의 개발팀이 진행했던 마케팅 및 프로젝트 발전 전략에 대해 감탄한다. 이 완벽한 계획은 빈 틈이 없어서 커뮤니티한테 들키지 않았고 의심도 안 받았다. 개발팀이 선택한 ATH (0.0119888)도 이쁜 숫자로서 만족하게 만들고 다음 단계로 넘어간다. 덤핑

질문은 어떻게 시장에 소크를 주지 않게 토근을 펌핑해 낼 수 있었을까? 그리고 이 프로젝트 유명한 인물을 활용하여 홍보하면서 왜 커뮤니티의 지적 및 보이콧을 피할 수 있었을까? 사실 현명한 고래와 마켓 메이커는 최고가로 올라갔을 때까지 기다려서 매도하기 시작한 것 아니라 펌핑 과정에서 커뮤니티도 모르게 단계적으로  덤핑한 것이다.
의심할 만한 행동을 보인 지갑 하나를 예로 들어보자.  A지갑이라고 부른다. 0x9e8451158086ba066d93c11d8d4b6e1969bcbc8d:

https://www.linkpicture.com/q/Image2-p2.png(TokFlow AI로부터 종합됨)

TokFlow의 연구 결과에 따르면 2021년 9월 7일 A지갑에 개발자로부터 돈을 전송받았다는 것으로 나타났다. 그래서 이 지갑을 개발팀에서 컨트롤하는 것이 의심되다.
명확하게 밝히기 위해 2021년 8월 21일 A 지갑으로 돈을 전송했던 지갑 (0xc99e4e934f1ddd2e3e03ffe38fe862ab5d6139be)의 돈 출처를 확인한 결과가 예상과 틀림없이 모든 RACA를 개발팀에서 전송받은 후 작게 나눠 여러 지갑들로 전송한 것으로 보인다.

https://www.linkpicture.com/q/Image3-P2_3.png(TokFlow AI로부터 종합됨)

개발팀의 소스 2개에서 토큰을 받았던 A 지갑은 10월 말까지 토큰을 보유하다가 토큰 전송 하기 시작하였다.

https://postimg.cc/t7hZScvs(TokFlow AI로부터 종합됨)

2021년 10월 7일에 A지갑에서 0x241ab55768da608196f4cd2d63f5dbc07415b1a2 지갑으로 거래했던 RACA 20만짜리의 트랜잭션을 랜덤으로 선택하여 이 거래의 목적은 뭔지 확인해보겠다. 결과가 다음과 같다

https://www.linkpicture.com/q/Image5-p2.png(TokFlow AI로부터 종합됨)

결론을 다음과 같이 낸다. A 지갑은 개발팀의 소스로부터 토큰을 전송받은 다음에 여러 가지 서브 월렛으로 나눠 전송함으로써 펌핑 행위를 저지른다. 이는 개발자의 명백한 펌핑의 행위가 보여진다.

추적하는 과정에서 저희 TokFlow 팀은 개발자가 토큰의 출처를 치우는 방법을 알아냈다. 우선 거래소에 토큰을 푸시하고 나서 진짜 유저의 지갑인지 개발팀의 지갑인지 ‘오직 하나님이 아는’ 지갑으로 전송한다. 그러나 커뮤니티의 눈을 가리는 것이 쉽지 않다. 다른 지갑 주소를 예로 들어보자.
(0xe4850258b8699bbd7b1cb337b6023c6b979e5808)

https://www.linkpicture.com/q/Image6-p2.png(TokFlow AI로부터 종합됨)

윗 지갑는 일반 지갑인데 거래소나 개발자로부터 토큰을 받을 수 있다? 이는 개발팀이 토큰을 거래소에 이체한 다음에 다른 지갑으로 입금하고 나서 몇 가지의 거래를 통해 여러 가지의 지갑으로 전송함으로써 덤핑 흔적을 치우는 증거다. 저희가 윗 지갑과 같은 몇 백 개의 지갑을 확인한 겨과 개발팀의 커뮤니티한테 덤핑됐던 토큰 수량이 적지 않다. (특히, 좋은 소식이 퍼졌을 때 이 지갑들이 덤핑하는 신호가 있음). 한편, 개발팀이 지갑들로 토큰을 입금하고 보상을 스테크하는 행위가 잘 보인다. 다음 예시에서 farming에 많은 돈을 쓰는 것을 보여준다.

https://www.linkpicture.com/q/Image7-p2.png(TokFlow AI로부터 종합됨)


위에 개발팀이 토큰을 덤핑하는 방법을 보여드렸다. 하지만 개발자의 지갑에 보유하는 토큰 수는 아주 작은 부분이다. 개발팀이 거래소에 토큰을 푸시하여 다른 지갑들로 빼냄으로써 흔적을 치울 수 있는 것을 알아냈을 때부터 저희 TokFlow 팀원이 거래소에서 돈을 받아서 10월 말부터 12 월 말까지 가격을 크게 상승한 시기부터 덤핑 행동을 진행했던 지갑들을 모두 확인하도록 하였다. 밝혔던 것은 다음과 같다

https://www.linkpicture.com/q/Image8-p2.png(출처: TokFlow channel)

위에 있는 모든 지갑들이 수상한 징후가 보이면서 거래소에서 몇 십억의 RACA를 입금받아서 같은 수량을 매도하였다. 75억의 RACA 를 넘게 덤핑했던 지갑을 같이 보자.

https://www.linkpicture.com/q/Image9-p2.png(TokFlow AI로부터 종합됨)

0x431731d312dffa688a37d81af8874a58776eacfd  지갑 주소의 하이라이트 몇 가지를 보자
- 2021년 9월 24일부터 (프로젝트가 가격을 부스팅 한지 1달 넘게 됐을 때) 현재까지 32865건을 거래하였다. 2021년 10월부터 11월 중순까지 (새로운 최고점을 계속해서 기록했을 때) 제일 많은 거래를 했다.
- 거래소에서 총 8.934.803.024 RACA를 전송받은 반면에 7.509.388.951 RACA를 매도하여 남은 1.425.414.073 RACA를 다른 지갑으로 넘긴 후 지갑 잔액은 0이다.
- 지갑에서 발생했던 모든 트랜잭션은
+ 토큰 입금처: PancakeSwap and Gate.io 또한 0x98e8f871d814bfc5506b6cd4abeb3d05f809f8c5 와 같은 다른 지갑 주소 (이 지갑들의 돈 출처는 윗 거래소에서  나옴)
+토큰 출금처: 2가지의 방법 있음. 하나는 PancakeSwap에다가 매도하고 나머지 하나는 다음과 같은 지갑 주소로 이체한다.
=> 0xb023d7f5aabd97b41b367a74c8e09cfa34a97702
=> 0x972c69d9d0af1bc888fee3efa15753f531046710
=> 0x39bd1ae0c8f3387905684913dc84f34e18a1654a

윗 지갑에서 전송받았던 토큰은 어디로 갈까?

https://i.postimg.cc/qM03gJNn/Image10-p2.png
https://i.postimg.cc/6qHt9f7M/Image11-p2.png
https://i.postimg.cc/jqvsQt8y/Image12-p2.png
(TokFlow AI로부터 종합됨)

=> Gate.io 또는 Mexc.com 거래소에 푸시되었다. 위에 분석했던 것처럼 개발팀이나 마켓메이커가 이런 방법으로  토큰의 출처를 치울 겸 커뮤니티의 눈을 가리도록 마켓 메이커의 지갑을 일반 지갑으로 위조하였다. 이 지갑 하나로 마켓 메이커가 몇 백 억의 토큰 덤핑이 성공적으로 이루었는데 저희가 발견했던 몇 백 개의 지갑으로 얼마나 어마어마한 숫자가 될지 상상하지 못한다.

4.3 덤핑 후 커뮤니티의 크라이시스 처리

현재까지 개발팀에 대한 믿음을 가지고 있는 남은 커뮤니티가 아직 존재한다는 것을 잘 알고 있다. 이들은 지금 기술 조절 및 개선하는 단계라고 생가하고 언젠가 갱생될거라고 믿게 만드는 개발팀이 대단한다.

하지만 기다리자 (아무도 몰라서) 저와 TokFlow 팀이 여기에 키 원드가 ‘믿음’이라는 것을 보여드린다. 토큰이 여러 번 나뉠 때 커뮤니티의 크라이시스를 처리하기 위한 가장 쉬운 방법은 확신을 주는 것이다. 여러 방식으로 개발팀이 프로젝트가 갑자기 죽지 않도록 노력한다. 한편, 마켓 메이커가 이 프로젝트의 내장을 천천히 빼내고 점점 덤핑되게 만든 반면에 마켓팅팀은 계속 커뮤니티를 달래면서 개발팀의 끊임없이 노력하는 모습과 프로젝트의 지속발전을 보여준다. 이는 Radio CACA 했던 짓이고 하고 있는 짓이다.

앞 부분에서 TokFlow AI를 사용하여 마켓메이커와 개발팀이 토큰을 덤핑하는 방법을 알려주었다. 미디어상에 있어서 ATH에 도달한 직후에  필연적으로 RACA 시가가 계속 하락하여 한 달만에 10배 나뉘어 0.00185에 달한 것으로 나타났다 (2021년 12월 12일). 커뮤니티가 패닉에 빠지고 믿음이 없어지기 시작하였다. 그 때 커뮤니티를 달래기 위해 11월 19일 RacaNFT에서 MPB 2차 판매 이벤트를 개최하고 2분 만에 끝났다. 이는 하락장에 토큰을 살 기회가 주어진 거라고 생각한다. 회망이 넘친 소식으로 RACA가 커뮤니티의 믿음을 조종하였다.
+ 12월 100억의 RACA를 버닝함
+ 소유자한테 10만의 RACA를 증정함
+ 이어서 USM Land Mystery Boxes을 출시함 (3분 45초만에 매진 통보)

2021년 12월 23일 토큰 가격은 0.0047까지 올라가다가 그후 한 달 동안 계속해서 하락하여 2022년 1월 22일까지 0.0018로 감소했다.

지금 덤핑 시기가 거의 완성했다고 생각한다. 하지만, 재미있는 게임이 아직 끝나지 않았다.  RACA가 커뮤니티의 믿음을 유지하며 될 수 있는 대로 남은 피를 빨아먹기 위해서  토큰 펌핑 및 덤핑 과정을 연속적으로 행한다.
2022년 1월 말 ~ 2월 초쯤 RACA의 미디어에서 뉴스를 퍼뜨렸다.
+ 2022년 1월 30일 케임브리지 대학의 블록체인 협회가 메타버스에서의 교육 세계 (메타버스 + 교육/ Meteverse + Education) 세우기, 교육 개혁 강화, 교육 평등 추진을 목적으로  Radio Caca (RACA)와 협력하였다.
+ 2022년 2월 3일 NFT에서 거래 수수료가 3%로 감소
+ 2022년 2월 6일 📢 터키 정부에서 메타버스를 적극적으로 검토하고 있다고 발표하였다. 동시에  가장 널리 분포된 지방 언론이 📰 #RACA @USMverse에 대해 좋은 점들을 강조함.

이 시기에 RACA 가격은 계속해서 0.0025로 상승하였다. 그 후 0.001로 덤핑되었다.
2022년 3월 28일 개발팀이 MPB한테 RACA의 시장 수수료  6억8만을 airdrop하겠다고 나섰다. 이는 시가가 0.0027에 유지되던 시기에 아직 충성한 커뮤니티한테 막지막 선물로 봐도 된다. 지금까지 9배 빠져서 하락하였다.

https://postimg.cc/3kGkPbn4

현재, 시가는 0.0003-0.0004정도 거래되고 있다. 마켓 메이커가 프로젝트의 메커니즘을 극복하고 개선하도록 노력하는 모습을 그대로 보여준다. 반면 재산의 몇 배를 잃어 손해를 보는 커뮤니티가 프로젝트의 회복 가능성에 대한 희망을 아직 가지고 있다. 요즘 개발팀과 마켓 메이커나 상어들이 토큰을 모으고 있다는 징후가 나타났다.

https://postimg.cc/DJwjjsnZ(출처: TokFlow channel)

윗 사진은 TokFlow팀이 종합했던 토큰을 모은 지갑 리스트 중의 일부다. BCS Chain에서 거래를 확인할 수 있다. 이는 리바운드를 기대하는 사람에게 좋은 소식이 될 지 아니면 RACA 개발팀이 시장을 조용히 움직이면서 더 많은 물고기를 잡기 위해 RACA 보트를 조종하는지?
이 질문은 투자자에게 드리겠다. 지금까지 모든 속임수가 노출되게 하는 아렉스와 Tokflow 팀이다.

어떤 다른 토큰에 대해서 궁금하신다면 TokFlow 커뮤니티 (https://t.me/tokflowgroup)에 참가하고 추천해주시길 바란다. 도와드리겠다!

4. 泵阶段的结束与通讯处理
哈喽，伙计们，又是来自TokFlow的Alex！在上一节中，我分析了RACA推高价格的步骤，以及做市商如何用媒体技巧操纵社群。在第2部分中，我将用充分的证据来阐明整个泵阶段的结束，最重要的是，从今年年初到现在，Radio CACA在泵后阶段如何处理社交媒体。在以0.003-0.004的价格横盘整理了大约2周后，开发团队迅速将RACA价格设定为一个意想不到的ATH纪录。

4.1. 上涨势头
11月8日，RACA宣布将在USM内开发网络安全培训中心 - Cyber Security Metaverse，办公室是位于SpaceX总部附近。此外，RACA还组织了300枚鸡蛋和10.000个DAU Milestone的空投计划 - 这是该项目宣布一系列精彩信息之际的一份非常有价值的礼物  。社群变得如此激动，以至于加入该项目的人数激增。开发商继续宠爱社群的“兴奋”，在同一天（2021年11月12日）宣布向所有MPB的持有者销毁3亿RACA和另外2亿RACA空投。

两天后 （2021年11月14日），RACA价格成功达到ATH，达到 0.0119888，社群极度兴奋但毫不怀疑。你还记得大约7个月前RACA的最低价格吗？在半年多的时间里，开发商成功地将低盘硬币的价格提高了630倍。

4.2.大量证据表做市商泵和转储了代币
有人可能想知道RACA在营销和项目方面都得到了全面的发展，因此RACA价格的大幅上涨完全是由社群的力量推动的，而不是故意的操纵？我们的TokFlow团队开发了一个AI，可以跟踪数百个做市商的钱包标签，总交易价值数百亿个RACA，以下是证据：

https://www.linkpicture.com/q/Image1-p2.png（资料来源： TokFlow 频道）

这是我们收集的做市商钱包的一小部分，如你所见，上述钱包都持有可以完全操纵市场的代币数量。在整个泵阶段，MM钱包不断大量购买RACA并出售非常少量的RACA，以期推高价格，同时通过同时买卖大量代币来伪造这些MM钱包的优势来伪造市场交易量。

我真的向Radio CACA营销和项目开发团队的策略脱帽致敬。一个完美的计划，没有一点漏洞或被社群怀疑，开发商选择伪造的ATH价格（0.0119888）也是一个非常好的数字，可以使他们满意并进入下一阶段 - 转储。

问题是，他们如何在不震撼市场的情况下抽取代币，或者在使用大量大牌进行公关时让社群批评和抵制该项目。事实上， 那些聪明的鲸鱼和做市商从不等待价格飙升才开始上涨。相反，他们在不引起社区注意的情况下，在推高价格的同时逐渐抛售。

我将以性能可疑的钱包地址为例，我称之为钱包A: 0x9e8451158086ba066d93c11d8d4b6e1969bcbc8d：

https://www.linkpicture.com/q/Image2-p2.png（由TokFlow AI合成数据）

根据TokFlow的分析，钱包A于2021年9月7日收到来自开发商的钱。因此，我怀疑这是由开发团队控制的钱包标签。
为了澄清这一点，我还检查了这个钱包标签0xc99e4e934f1ddd2e3e03ffe38fe862ab5d6139be于2021年8月24日转移到钱包A。毫不奇怪，事实证明RACA的数量也来自开发商的，然后它被分解并转移到许多其他钱包中：

https://www.linkpicture.com/q/Image3-P2_3.png（由TokFlow AI合成数据）

因此 ，在从两个开发商的来源收到代币后，钱包A一直持有代币直到10月中旬，并开始下达大量转移代币的订单：

https://postimg.cc/t7hZScvs（由TokFlow AI合成数据）

我将随机查看2021年10月7日0x241ab55768da608196f4cd2d63f5dbc07415b1a2转账200K RACA的钱包A的交易，以查看此交易的真实目的。以下是我的发现：

https://www.linkpicture.com/q/Image5-p2.png（由TokFlow AI合成数据）

由此我得出的结论是：钱包A从开发商的来源收到大量代币，然后下了大量订单，将钱转移到其他子钱包以放置抛售订单，这表明了开发商相当明显的倾销行为。

在跟踪过程中，TokFlow团队追踪了开发商如何通过将代币推送到交易所来 擦除代币来源的痕迹 ，然后将代币转移到另一个“只有上帝知道”的钱包地址。这是真正用户的钱包还是开发商的钱包呢？但没有什么能遮住社群或TokFlow AI的眼睛，我会给你一个钱包标签的例子：
（0xe4850258b8699bbd7b1cb337b6023c6b979e5808）

https://www.linkpicture.com/q/Image6-p2.png（由TokFlow AI合成数据）

上述是一个常规的钱包标签，但它可以同时从交易所和开发商接收代币吗？这证明了开发团队可以将资金转移到交易所，然后通过转移到另一个钱包并将几轮转移到许多其他钱包标签上进行转储来消除痕迹。我的TokFlow团队已经统计了数百个具有类似交易的钱包，这表明倾销给社群的代币数量根本不可以忽略不计（特别是当项目有好消息时，这些钱包显示出转储的迹象）。此外，也很容易注意到开发商将代币分解为钱包并押注奖励的行为。下面是一个类似的示例，说明开发商在农场种植上花了多少钱：

https://www.linkpicture.com/q/Image7-p2.png（由TokFlow AI合成数据）

我刚刚向你展示了开发商如何转储代币。但是，开发商钱包中的代币数量只是一小部分。当我了解到开发商可以通过将代币推送到交易所然后从其他钱包中提取来擦除痕迹时，我让TokFlow团队从交易所接收资金的所有钱包审查，并从10月底到12月底价格开始急剧上涨的那一刻起不断进行倾销。以下是TokFlow发现的一部分内容：

https://www.linkpicture.com/q/Image8-p2.png（资料来源： TokFlow 频道）

上述所有钱包都显示出可疑的迹象，即从交易所收到数十亿美元的RACA，然后以等额出售。我会为你检查已经倾销了超过75亿RACA的钱包：

https://www.linkpicture.com/q/Image9-p2.png（由TokFlow AI合成数据）

看看这个钱包地址0x431731d312dffa688a37d81af8874a58776eacfd的一些亮点如下：
- 自2021年9月24日（当时该项目已经提高了1个多月的定价）以来，该钱包总共有32865笔交易。该钱包在10月底到2021年11月中旬的交易最多（当时该项目连续达到新的峰值）
- 该钱包从交易所收到总计8.934.803.024RACA，售出7.509.388.951RACA，其余数量1.425.414.073RACA被转移到其他钱包，目前钱包中的代币数量为0。
- 钱包的总交易包括：
+ 代币买入： 2 PancakeSwap 和 Gate.io 或其他一些钱包地址，例如： 0x98e8f871d814bfc5506b6cd4abeb3d05f809f8c5 （此钱包地址的资金来源也来自上述2个交易所）
+ 代币出售：以两种方式：要么在PancakeSwap上出售，要么转移到某个钱包地址，例如：
=> 0xb023d7f5aabd97b41b367a74c8e09cfa34a97702
=>0 x972c69d9d0af1bc888fee3efa15753f531046710
=> 0x39bd1ae0c8f3387905684913dc84f34e18a1654a
那么从上述钱包地址收到的代币将去哪里呢？

https://i.postimg.cc/qM03gJNn/Image10-p2.pnghttps://i.postimg.cc/6qHt9f7M/Image11-p2.pnghttps://i.postimg.cc/jqvsQt8y/Image12-p2.png
（由TokFlow AI合成数据）

=> 因此，它们继续被推到Gate.io或Mexc.com上。如上所述，这是开发商或做市商使用的一种代币擦除形式，用于将做市商钱包作为普通用户钱包，为了遮住社群的眼睛。而且，只用一个钱包标签，做市商已经成功抛售了近百亿个代币。因此，根据我们发现的数百个钱包，这个数字确实令人难以置信。

4.3. 后转储阶段的社群危机的处理
我知道，到目前为止，RACA已经相当成功了，因为该项目的其余社群仍然对开发团队抱有很大的信心，相信这只是技术调整和升级的一个阶段，总有一天他们会收回。

不过等着瞧吧（谁知道呢），我与TokFlow会告诉你这里的关键词是“信心”。当代币被分太多次时，泵项目处理社群危机的最简单方法是给社群信念。通过各种方法，开发商不会让项目突然死亡。一方面，做市商会慢慢转储项目，使项目越来越下跌。另一方面，营销部门继续安抚社群，为社群创造东西，看到开发团队的不懈努力，项目还在不断发展。嗯，这正是Radio CACA一直在做并继续做的事情。

在上一节中，我使用TokFlow AI分析了做市商和开发商如何抛售代币，在通讯方面，在达到ATH纪录后，一系列泵订单的不可避免的后果是RACA价格不断下跌，并在1个多月内将分了10次为0.00185（2021年12月12日）。社群变得惊慌失措，失去了信心。此时，开发商试图通过11月19日在RacaNFT上进行第二轮MPB销售来安抚社群，并在不到两分钟的时间内结束。这表明社群非常乐观，他们认为这是购买下跌的机会。RACA通过一系有希望的新闻来操纵社群的信任：
+ 12月烧掉100亿RACA
+ 赠品超过100k RACA的持有者
+ 继续发布USM Land Mystery Boxes(在3分45秒内售罄）

代币价格在2021年12月23日被推回0.0047，并在一个月持续下跌至0.0018，直到2022年1月22日。
我想，此时，开发商的转储阶段几乎已经完成。然而，猫捉老鼠的游戏还没有结束。在接下来的2个月里，RACA继续在代币上进行抽水放水，以保持对社群的信任并尽可能地“吸血”。

2022年1月底和2月初，RACA的媒体充斥着新闻：
+ 2022年1月30日：剑桥大学区块链协会与Radio Caca（RACA）合作，在Metaverse世界“元宇宙+教育”中建立教育，授权教育改革，促进教育平等。
+ 2022年3月2日：NFT市场的交易费用降至3%。
+ 2022年2月6日：📢土耳其政府🏛宣布正在积极研究元宇宙。与此同时，土耳其发行最广泛和最着名的当地新闻和报纸📰正在强调所有关于#RACA @USMverse

RACA价格此时持续上涨至0.0025。然后，它被慢慢抛售到0.001。
2022年3月28日，开发商宣布对所有MPB空投6.8亿RACA营销费用。这是做市商在0.0027时给予忠诚社群的最后一个礼物，直到现在价格继续再分9次。

https://postimg.cc/3kGkPbn4
目前，价格在0.0003-0.0004的横盘内交易。做市商继续展示他们为修复和改进项目机制所做的努力，而资产被分了几次的社群仍然坚持希望有一天该项目能够再次蓬勃发展。我注意到最近仍然有开发商，做市商或鲨鱼收集代币的迹象：

https://postimg.cc/DJwjjsnZ（资料来源： TokFlow 频道）

这是继续收集代币的新钱包列表的一部分，由TokFlow编制的，你可以在BSC Chain上检查交易。我不知道对于那些仍然希望反弹的人来说，这是个好消息，还是怀疑RACA开发商只是悄悄地操纵市场，并再次将RACA船驶向大海以获得更多的鱼？
我将把这个答案给交易者，但对我来说，Alex与TokFlow团队 - 每一个技巧都可以暴露！
如果你想让我们分析任何代币，你可以参加TokFlow社群的电报频道(https://t.me/tokflowgroup)向我们推荐， 我们随时为你服务！

안녕하세요? 금용 영역에서 기업과 투자자를 위한 고문 및  감사의 역할로서 활동하고 있는 Tokflow 단체에서 온 아렉스라고 한다. 최근에 거대한 프로젝트인 Radio CACA에 대해서 연구해보았다. 2021년 말쯤 이 프로젝트가 유명해져 NFT 시장에서 주목을 엄청나게 받았다. RACA 토큰은 CoinMarketCap에서 2천 만의 팔로워를 넘어섰으며 트위터 에서는 57만 2천 명에 도달한 것으로 나타났다. 시가총액이 낮은 코인 (low cap coin)치고는 아주 인상적인 숫자다.

그러나 상세 사항을 연구하고 추적하면서 이 프로젝트의 전체 데이터가 세련하고 노골적인 방식으로 과대포장되고 조작된 것을 밝혀냈다. 몇 백만의 유저들이 자신도 모르게 코를 꿰여 끌려다니고 있다.
그럼 개발팀은 어떻게 커뮤니티를 유인했는가?

1. 테스트 및 모음 (2021년 5월~8월 중순)

2021년 5월 16일로 되돌아 가보자. 시가가 0.000019에 머물었다가 0.000195 (10배)로  급증했을 때다. 동시에 Radio CACA에서 RACA V1 프로젝트를 출시하겠다며 일론 머스크의 어머니인 메이 머스크가 프로젝트의 미디어렙이 된다는 것을 유포시킴으로써 커뮤니디의 관심을 끌었다. 뜻밖에 2일 뒤 시가가 최저가인 0.000016로 하락한 것이다.
5월에도 RACA 가격이 비정상하게 2번이나 푸팅되었다.
+ 0.00007. MEXC Global 거래소에서 RACA 토큰 상장의 뉴스가 5월 20일  떴음.
+ 0.00005. BakerySwap 거래소에서 NFT “The Dancing Koda” 상장 통보가 5월 26일 올라왔음.
이 후 시가가 감소한 다음에 2개월 이상의 동안  0.00002의 가격대에  보합추세를 보였다.

https://www.linkpicture.com/q/Chart1.png

5월 말의 프라이싱 이벤트는 개발팀이 미디어 뉴스에 대한 커뮤니티의 반응을 조사하는 동시에 전체 시장을 파악하여 확실히 손안에서 주무른 건지 확인하고 실제 싸움에 잘 준비되어 있는지 파악하도록 하기 위한 디딤돌 역할로 간주된다.

(비고: 코다 (Koda)는 네발이 있는 로봇 개다. 이는 세계에서 최초의 분산식 AI 로봇 개 프로젝트이며 IPFS/Filecoin Network에서 저장되어 있는 데이터에 대한 선택적인 기능이 포함된다. Dancing Koda" NFT는 코다의 민첩성을 보여준 가장 훌륭한 무대다.이 NFT는 유일한 입찰 수단인  Radio Caca 및 RACA 토큰을 통해서 출시될 예정이다.)

2. 시장 조작 및 여론몰이

RACA 펌핑 계획은 8월 중순이야 본격적으로 실행되었다.

2021년 8월 16일부터 21일까지 일주일도 안 된 사이에 가격이 계속 상승하다가 2021년 8월 21일 최고점를 기록하여 최고가가 0.00048868에 달하였다.

이 시기에 RACA에서 시장을  조종하고 가격의 폭등을 정당화시키기 위해 뭘 했는가?

2021년 8월 17일 개발팀은 CZ와 메이 머스크랑의 메타버스 토론을  제시하였다. RACA 개발팀이 유행 중인 메타버스 트렌드와 세계에서 막대한 영향력이 있는 2명의 KOL인 CZ와 메이 머스크의 이미지를 활용하는 것으로 프로젝트가 크게 퍼지게 하였다. 더불어 RACA가 계속해서 뉴스를 유포시켰다.
+ 8월18일 유저들이 RACA V1를 V2로 스왑할 수 있도록  RACA V2 토큰을 출시했으면서 500억의 V1를 버닝하고 남은 공급량을 V2 유동성 그룹으로 배치한다.
+ 2021년 8월 20일 CoinGecko 거래소에 RACA 토큰이 상장되었다.
+ 2021년 8월 21일 CoinMarketCap 거래소에 RACA 토큰이 상장되었다.
Radio CACA는 수많은 유리한 뉴스를 퍼뜨림으로써 커뮤니티의 눈가림에 성공하고 여론 및 상품에 있어 신뢰를 얻어냈다.

시장을 조종하기 위하여, RACA의 거래량 데이터도 노골적으로 조작됨으로써 커뮤니티에 신뢰를 쌓고 토큰 시가의 폭등을 정당화하였다. 구체적으로,
+ 8월 20일 BCS Chain 거래소에서 소집된 종합 데이터에 따르면 거래량은 44.052.912 USD에 도달한 것으로 보였지만 실제로 거래량은 29.647.125 USD를 초과하지 못했다. => 거래량은 14.405.787 USD 넘게 조작되었다.
+ 8월 21일 BCS Chain 거래소에서 소집된 종합데이터에 따르면 거래량은 36.138.572,880 USD에 도달한 것으로 보였지만 실제로 거래량은 27.532.908USD를 초과하지 못했다. => 거래량은 8.605.664USD
 넘게 조작되었다.

프로젝트의 펌핑 시기인 8월에만 RACA가 조작한 가짜의 거래량에 대한 통계를 다음과 같이 보여드린다.

https://www.linkpicture.com/q/Image1_5.png(자세한 정보는 Tokflow 채널에 있음)

여러분이 저한테 이런 질문을 던지겠다. 어떻게 RACA가 거대한 거래량을 조작했던 것인가? 위에 보여드린 거래량 데이터가 조작된 증거가 있는지?
네, 전문 개발팀은 프라이싱 과정에서 거래량을 조작하기 위해  썼던  bot 지갑들에 대한 증거를 아래로 보여드리겠다.

https://www.linkpicture.com/q/Image2_6.png(출처: bscscan.com)

(0x597fa8fc25a1d74f50d86c02e86accd225e8908a)는 Bot 지갑 주소의 예시다. 이 지갑 내역에서 막대한 토큰 거래량을 매수한 직후 즉시 매도한 1800건을 명시하였다. PancakeSwap에서 거래량을 조작한 트랜잭션은 BNB를 사용하여 RACA를 사들인 다음에 곧바로 같은 거래량의 RACA를 팔아 BNB를 받았다.

https://www.linkpicture.com/q/Image5_3.pnghttps://www.linkpicture.com/q/Image4_4.png
(출처: bscscan.com)

틀림없이 거래량을 조작한 지갑이 하나밖에 없다는 것이 아니다. 그 동안 커뮤니티를 속이기 위한 몇 십만의 트랜잭션을 같은 방식으로 진행한 400개의 bot 지갑 주소를  종합하였지만 숫자가 확실히 이대로 멈추지 않는다. 아래와 같은 지갑 주소를 통해서 스스로 확인할 수 있다.

https://www.linkpicture.com/q/Image5_3.png(출처: TokFlow channel)

커뮤니티의 눈을 가리는 모든 방법으로 개발팀은 3개월만에 RACA의 시가를 부풀려 최저가에 비해 250배 증가하였다. 이 숫자는 5월부터 RACA에 투자했던 운 좋은 사람한테 아주  인상적인 결과다. 그러나 게임이 이제 막 시작했을 뿐이다. 마켓 메이커는 FOMO 경쟁에서 가격에 대해 3개월인 8월 말부터 11월 말까지 커뮤니티와 플레이할 준비되어 있었다.

3. 펌핑 스킴 및 머니 메이킹 툴

2021년 8월 24일 RACA는 CZ와 메이 머스크가 바이낸스 메타버스 (8월 26일 개최)에 참가하겠다고 통보하였다. 이는 RACA의 시가가 0.0009로 올라가 새로운 최고가를 기록한 직후에 0.0004로 조정됐으며 이 가격대에 9월 말까지 횡보하였다.
2021년 9월 7일 RACA에서 저스틴 선이 메이 머스크와 함께 “The Sovereign Robot Dog's Avatar in Metaverse” 컨퍼런스에 등장하겠다는 통보가 떴을 때  시가가 0.00069로 조금 회복되었다.
개발팀이 업계에서 많은 유명한 이름을 이용해서 여론몰이, 높아진 신뢰성 및 완벽한 커버로 RACA시가가 새로운 ATH를 연속 기록했다고 말할 수 있다.

미디어 및 인기가 많은 KOL를 이용하여 토큰의 시가를 부풀린 것이 전부라면 이 프로젝트는 사소한 사기에 불과했을 뿐이다. 하지만 Radio CACA 개발팀은 토큰에 지원하는 툴로서의 생태계를 조성하고 거대한 이익을 내도록 커뮤니티를 유인하였다. 

우선, 2021년 10월 메타몬 게임이 출시되었다는 것을 언급해야 한다. 이는  Binance Smart Chain (BSC) 플랫폼에 플레이-투-언 미니 게임의 하나다. 10일 뒤 개발팀이 메타몬 베타 2.0 (Metamon beta 2.0)를 출시하더니 출시 하루만에 10억의 Raca를 버닝했다. 이는 플레이하기 쉬운 게인데 초기 투자금이 어마어마하다. (가장 싼 메타몬 N는 한 개당 4000-5000USD 함).  그 때 커뮤니티가 Radio CACA의  큰 발전에 기쁨을 감추지 못했으며 RACA의 시가가 떡상하여 2021년 10월 10일 0.00271인 새로운 최고가를 기록하는 것을 이해하기 어렵지 않다.
메타몬 외에는 BCS 플랫폼에서 출시된 USM 메타버스, The United States of Mars 같은 프로젝트를 소유하고 있다. 특히, 프로젝트에서 상위 4개 NFT 브랜드인 MUSK 벅스에 속한 최초이자 유일하게 신비한  NFT인 Maye Musk Mystery Box (MPB)를 출시했다. 이 NFT는 처음에 200USD짜리 했지만 73,000 USD에 도달한 적이 있었다.

Radio CACA는 MPB 소유자에게 몇 억 달러를 airdrop 프로그램들을 통해 나눠줌으로써 커뮤니티한테 너그러움을 보여준다. 무엇보다 커뮤니티의 믿음을 얻기 위해 일론 머스크가 Radio Caca와 협력하여 RACA NFT 소유자를 위한 airdrop 이벤트를 개최한 것이다. MPB  NFT 소유자는 Radio Caca NFT 프로젝트와의 협력을 기념으로 Tesla에서 출시하는 실제 Cybertruck 차량 100 대를 받을 기회를 제공받았다. 현재까지 차량을 받은 사람은 한 명밖에 없다는 것으로 나왔다.

2개월 동안  진행했던 모든 여론몰이 마케팅 전략으로 10월 말쯤 0.0039인 새로운 최고가를 기록하고 11월의 첫째주 동안 0.003-0.004 가격대에 보합한 것을 정당화하기에 성공하였다. 이제 개발팀이 마지막 펌핑 캠페인에 들어갈 준비되어 있다.

https://www.linkpicture.com/q/Chart2.png

(다음에 계속…)

大家好，我是Alex来自TokFlow。TokFlow是一个金融领域的组织，作为大公司和投资者的私人顾问和审计师。最近，我一直在研究一个相对庞大的项目 - Radio CACA。这是一个在2021年底开始流行并在NFT领域引起巨大关注的项目。RACA代币在CoinMarketCap上已经拥有近2000万关注者，而Twitter频道已达到572k粉丝，这对于低上限硬币来说是令人印象深刻的数字。

然而，在研究和追踪细节的过程中，我发现该项目的整个数据都被过度炒作，并以一种非常复杂和公然的方式捏造。数以百万计的用户甚至不知道，全都被牵着鼻子走。
那么，社群是如何被开发团队误导的呢？

1.测试和收集阶段（2021年5月至8月中旬）
让我们将时间倒带到2021年5月16日。当价格在0.000019时，它突然增加到0.000195（10倍）。与此同时，Radio CACA宣布推出RACA V1项目，并通过传播媒体代表是Elon Musk 的母亲 - Maye Musk夫人的消息，引起了社群的注意。出乎意料的是，几天后价格被推回0.000016。

同样在5月份，Raca价格有两次异常上涨。
+ 0.00007，RACA代币于5月20日在MEXC Global交易所上市。
+ 0.00005，NFT ?The Dancing Koda?于5月26日在BakerySwap交易所上市。
然后它再次下跌，仅在0.00002的价格区域附近横盘整理了2个多月。
https://www.linkpicture.com/q/Chart1.png

我认为五月份的定价事件是开发商调查社群对媒体新闻的反应的垫脚石，同时调查并确保市场已经被完全操纵，并为即将到来的真正战斗做好充分准备。

（注：Koda是一种四足机器人狗，是世界上第一个去中心化AI机器人狗项目之一，具有存储在IPFS/Filecoin Network上的数据的可选功能。?Dancing Koda?NFT是柯达敏捷性的完美表演。 这个NFT将通过Radio Caca列出，RACA代币是唯一的竞标方式。）

2. 操纵市场与社交媒体
RACA的泵计划自8月中旬以来一直在真正强大地实施。
在2021年8月16日至21日不到一周的时间内，价格持续上涨，并于2021年8月21日创下新高峰，最高价格为0.00048868。

RACA在这个时候做了什么来操纵市场并使价格飙升合法化？

2021年8月17日，开发商宣布与CZ和Maye Musk进行Metaverse讨论。RACA开发商非常敏锐地利用了流行的Metaverse趋势，以及世界上两个著名的KOLs，CZ和Maye Musk的视觉效果，这使得该项目几乎病毒式传播。此外，RACA不断发布信息：
+ 8月18日：RACA V2代币首次推出，使用户能够将RACA V1交换为V2，同时烧掉了500亿V1，剩余的供应被投入V2流动性组。
+ 2021年8月20日：RACA代币正式在 Coingecko上市。
+ 2021年8月21日：RACA代币正式在CoinMarketCap上市。 
Radio CACA成功地用一系列有益的新闻蒙住了社群的眼睛，显然在社交媒体和产品方面都获得了社群的声誉。

为了操纵市场， RACA的交易量数据也被公然伪造，增加了合法化社区对出乎意料的高代币价格的可信度。具体说来：
+ 8月20日，BSC Chain汇总数据显示，交易量达到 44.052.912 美元，但实际交易量仅为 29.647.125 美元 => 假交易量为 14.405.787 美元。
+ 8月21日，BSC Chain汇总数据显示，交易量达到 36.138.572,880 美元，实际交易量仅为 27.532.908 美元 => 假交易量为 8.605.664 美元。

我将在八月份给你一个关于RACA假交易量的一小部分统计数据的分析 - 当该项目正在推广泵阶段时：
https://www.linkpicture.com/q/Image1_5.png
（点击这里查看更多信息： TokFlow 频道）

你会问我：RACA怎么会伪造如此巨大的交易量，有什么证据表明交易量是假的？
现在，我将向你展示bot钱包的证据，这些证据是由该项目的专业开发团队建立的，该团队专门在定价过程中伪造交易量：
https://www.linkpicture.com/q/Image2_6.png
（资料来源：bscscan.com）

这是一个bot的钱包地址（0x597fa8fc25a1d74f50d86c02e86accd225e8908a）的例子，有超过1800笔交易立即以大量代币购买和出售。PancakeSwap上虚假交易量的详细信息：使用BNB购买RACA，立即将RACA等量出售成BNB：
https://www.linkpicture.com/q/Image3_4.png
https://www.linkpicture.com/q/Image4_4.png
（资料来源：bscscan.com）


毫无疑问，这不是唯一一个伪造数量的钱包地址，我的团队已经汇总了400多个bot的钱包地址和数十万笔类似的交易，以在整个过程中欺骗社群，当然这个数字并不止于此。你可以通过以下一些钱包自行验证信息：
https://www.linkpicture.com/q/Image5_3.png
（点击这里查看更多信息： TokFlow 频道）

可以说，开发商通过一切愚弄社区的手段，在短短3个月内成功地把RACA的价格推高比最低价格高出250倍。对于任何自五月以来有幸投资RACA的交易者来说，这是一个非常令人印象深刻的数字。然而，游戏才刚刚开始。做市商已做好充分准备，从8月中旬到11月中旬，在3个月内连续3个月与社群一起玩关于价格的FOMO战。
 
3. 泵计划与赚钱工具
2021年8月24日，RACA宣布CZ和Maye Musk参与Binance Metaverse Panel研讨会（8月26日），使RACA价格创下0.0009的新高峰，然后立即调整至0.0004，并在此横盘整理至9月底。
价格在2021年9月7日仅略微回升至0.00069，当时RACA宣布Justin Sun与Maye Musk参加?The Sovereign Robot Dog's Avatar in Metaverse?会议。
可以肯定的是，业内很多知名品牌都是为了骗局而公布的，为了树立信誉，为开发商披上完美的掩护，帮助RACA价格不断建立新的ATH(最高纪录)。 

如果这一切都是关于使用媒体和著名的KOLs来增加代币价格，那么该项目肯定只是一个无足轻重的小骗局。然而，Radio CACA开发团队创建了一个完整的生态系统作为代币支持工具，并诱使社群赚取巨额利润。

首先，不得不提到2021年10月初推出的Metamon游戏项目。这是Binance Smart Chain（BSC）上的一款玩赚迷你游戏。10多天后，开发团队继续发布Metamon Beta 2.0，并在游戏发布仅一天后就烧毁了10亿RACA。 这是一个非常容易玩的游戏，但初始投资相当大（最便宜的Metamon N为4000-5000美元）。当时的社群对Radio CACA的强劲发展感到兴奋，不难理解RACA的价格已经飙升，并在0.00271（2021年10月10日）创下了新的高峰。

除了Metamon，RACA还在BSC上拥有许多大型项目，例如USM Metaverse，The United States of Mars。值得注意的是，该项目推出了Maye Musk Mystery Box (MPB)，这是属于?MUSK?盒子的第一个也是唯一的神秘NFT盒子 - 进入前四名NFT品牌。曾经有一段时间，NFT达到73.000美元，而最初的价格仅约200美元。

Radio CACA还通过不断向MPB的持有者提供数亿美元的空投计划来展示其对社群的?慷慨?。更重要的是Elon Musk与Radio Caca合作，为RACA NFT的持有者进行空投并信任该项目。MPB NFT的持有者有机会在现实生活中收到100辆由Tesla公司发布的CyberTruck汽车，用于与Radio Caca NFT项目合作。到目前为止，只有一个人有幸拥有了这辆车。

在2个多月的时间里，Radio CACA的所有营销，面向社群的策略都成功地使RACA价格合法化，该价格在10月底攀升至0.0039的新高，并在11月的第一周保持在0.003-0.004左右的横盘，为开发商的最终抽水活动做准备。
https://www.linkpicture.com/q/Chart2.png

【未完待续。。。】

Hi everyone, I'm Alex from TokFlow, an organization in the financial sector that has a strategic role as private advisor and auditor for major companies and investors. Recently, I have been researching a relatively massive project - Radio CACA. This is a project that became popular by the end of 2021 and attracted tremendous attention in the NFT space. The RACA token already has nearly 20 million followers on CoinMarketCap, while the Twitter channel has reached 572k followers, which are  impressive numbers for a low cap coin.

However, in the process of researching and tracing the details, I discovered that the entire data of the project had been over-hyped and fabricated in a very sophisticated and blatant way. Millions of users have been led by the nose without even knowing it.
So how was the community misled by the development team?

1. Testing and Collecting Phase (May to mid-August 2021)
Let's rewind the time on May 16, 2021. When the price was at 0.000019, it suddenly increased to 0.000195 (10 times). At the same time, Radio CACA announced the launch of the RACA V1 project and drew the attention of the community by spreading the news that the media representative is Elon Musk's mother - Mrs. Maye Musk. Unexpectedly, the price was pushed back to 0.000016 just two days later.

Also in May, there were two times when Raca prices were boosted abnormally.
+ 0.00007 with the news that the RACA token was listed on MEXC Global exchange on May 20.
+ 0.00005 with the announcement that NFT "The Dancing Koda" was listed on the BakerySwap exchange on May 26.
And then it was down again and only went sideways around the price zone of 0.00002 for more than 2 months.
https://www.linkpicture.com/q/Chart1.png

I consider the pricing events in May as a stepping stone for the developers to probe the community's reaction to the media news, while at the same time investigating and ensuring that the market has been completely manipulated in hand, and being well-prepared for the real fight to come.

(Note: Koda, a four-legged robotic dog, is one of the world's first decentralized AI robot dog projects, with optional features for data stored on the IPFS/Filecoin Network. "Dancing Koda" NFT is the perfect performance for Koda's agility. This NFT will be listed  through Radio Caca and Raca tokens are the only means of bidding.)

2. Manipulating the Market and Media
The RACA’s pump plan has really taken place since mid-August.
In less than one week from 16-21/08/2021, the price continuously increased and set a new peak on August 21, 2021, with the highest price being 0.00048868.

What has RACA done at this time to manipulate the market and legitimize the spike in prices?

On August 17, 2021, the developers announced a Metaverse discussion with CZ & Maye Musk. RACA developers were really sharp to take advantage of the prevailing Metaverse trend, and the visual effects of two prominent KOLs in the world, CZ and Maye Musk, which made the project almost go viral. Moreover, RACA is constantly releasing information:
+ On August 18, 2021: the RACA V2 token was first introduced that enabled users to swap RACA V1 into V2, along with the burning of 50 billion V1, the remaining supply was put into the V2 liquidity groupOn August 20, 2021: RACA token was listed on CoinGecko.
+ On August 21, 2021: RACA token was listed on CoinMarketCap.
Radio CACA has successfully blinded the community with a series of beneficial news, clearly gaining the reputation in the community in terms of both media and product.

In order to manipulate the market, Raca's trading volume data was also blatantly faked, increasing the credibility with the legalization community for the unexpectedly high token price. Specifically:
+ On August 20, data aggregated on BSC Chain showed that the transaction volume reached $44,052,912, but the actual trading volume was only $29,647,125 => the fake transaction volume amounted to $14,405,787.
+ On August 21, data aggregated on BSC Chain showed that the transaction volume reached $36,138,572, but the actual trading volume was only $27,532,908 => the fake transaction volume amounted to $8,605,664.

I'm going to give you an analysis of statistics on a small portion of RACA's fake trading volume only in August - when the project was promoting the pump phase:
https://www.linkpicture.com/q/Image1_5.png
(Click here for more information: TokFlow Channel)

You'll ask me: how can RACA fake such a huge trading volume, and what evidence shows that the volume is fake?
Now, I'll show you evidence of bot wallets that was built up by the professional development team of the project specializing in faking the trading volume during the pricing process:
https://www.linkpicture.com/q/Image2_6.png
(Source: bscscan.com)

This is an example of a bot’s wallet address (0x597fa8fc25a1d74f50d86c02e86accd225e8908a) with more than 1800 transactions instantly purchased and sold at a large number of tokens. Details of a fake transaction volume on PancakeSwap: use BNB to buy RACA, immediately sell RACA to BNB in equal quantities:
https://www.linkpicture.com/q/Image3_4.png
https://www.linkpicture.com/q/Image4_4.png
(Source: bscscan.com)

Without a doubt, this isn't the only wallet address faking volume, my team has aggregated more than 400 bot wallet addresses with hundreds of thousands of similar transactions to defraud the community throughout the time, and certainly the number just doesn't stop there. You can verify the information yourself through some of the following wallets:
https://www.linkpicture.com/q/Image5_3.png
(Click here for more information: TokFlow Channel)

It can be said that, by all means of fooling the community, the developers have successfully pumped the price of RACA 250 times higher than the lowest price in just 3 months. It's a really impressive number for any trader who has been lucky enough to invest in RACA since May. However, the game has only just begun. Market makers are well prepared to play with the community in an FOMO war about price continuously for 3 months from mid-August to mid-November.

3. The Pump Scheme and Money-Making Tools
On August 24, 2021, RACA announced the participation of CZ and Maye Musk in the Binance Metaverse Panel (August 26), bringing the RACA price to set a new peak at 0.0009 and then immediately adjusting to 0.0004 and going sideways at this point until the end of September.
The price only slightly recovered to 0.00069 on September 7, 2021 when RACA announced that Justin Sun was with Maye Musk at The Sovereign Robot Dog's Avatar in Metaverse conference.
It can be affirmed that a lot of prestigious names in the industry have been revealed for the sake of the scam, in order to establish credibility and put on the perfect cover for developers to help RACA prices continuously set up new ATH.

If it’s all about pumping token prices using the media and famous KOLs, the project will definitely be nowhere near as a petty scam. However, the Radio CACA development team has created an entire ecosystem as a token support tool and enticed the community to make huge profits.

First of all, it is crucial to mention the Metamon game project launched in early October 2021. This is a play-to-earn mini game on the Binance Smart Chain (BSC). After more than 10 days, the development team continued to release Metamon Beta 2.0 and burned 1 billion Raca after just one day of the game's release. This is a very easy game to play, but the initial investment is quite large (4000-5000 USD for the cheapest Metamon N). The community at that time had become excited by the strong development of Radio CACA and it is not difficult to understand that the price of RACA has skyrocketed and set a new peak at 0.00271 (October 10, 2021).

Along with Metamon, RACA also owns a number of large projects on BSC such as USM Metaverse, The United States of Mars. Notably, the project launched the Maye Musk Mystery Box (MPB) – the first and only mysterious NFTs boxes belonging to the "MUSK" boxes – in the top 4 NFT brands. There was a time that the NFT hit $73,000, while it initially cost only about $200.

Radio CACA also demonstrates its "generosity" to the community by constantly offering airdrop programs to MPB owners with hundreds of millions of dollars. More importantly, it is interesting to note that Elon Musk collaborated with Radio Caca to airdrop for the holder of RACA NFT and trust the project. MPB NFT holders have the opportunity to receive 100 CyberTruck cars in real life released by the Tesla company for the partnership with the Radio Caca NFT project. So far, only one person has been lucky enough to own this car.

All of Radio CACA's marketing, community-oriented strategies over the course of more than 2 months have successfully legitimized the RACA price that climbed to a new peak of 0.0039 by the end of October and sustained sideways at around 0.003-0.004 in the first week of November, getting prepared for the developers' final pumping campaign.
https://www.linkpicture.com/q/Chart2.png

[To be continued…]