Expert: 12 out of 27 presales in the Solana ecosystem turned out to be scams

  • 27 projects in the Solana ecosystem collected more than 655,000 SOL as part of the presale.
  • More than 40% of them stopped further development.
  • This was reported by independent expert ZachXBT.

More than 40% of projects in the Solana ecosystem stopped further development a month after the presale. This conclusion was reached by independent on-chain analyst ZachXBT.

The expert studied 27 projects that raised more than 655,000 SOL during the pre-sale of tokens. 12 of them were related to fraud.

It is reported that their creators raised 180,650 SOL (about $26.7 million). After that, they stopped supporting the projects and did not return their assets to users.

According to ZachXBT, the LIKE memcoin collected the most funds – 52,220 SOL, which is about $8 million. The founder of the project under the pseudonym pokeee.eth launched the LIKE token on March 17, 2024 with a market capitalization of $577 million. However, in the first 8 hours of trading, the value of memcoin fell by more than 90%, the source claims.

. Источник: DEXTools.” class=”wp-image-224364″ srcset=” 1873w,×141.png 300w,×483.png 1024w,×362.png 768w” sizes=”(max-width: 1873px) 100vw, 1873px”>Торговая пара LIKE/USD. Source: DEXTools

The second largest project was MOONKE, launched on March 20 by a user under the pseudonym RockyXBT. In a matter of hours, the asset collapsed by more than 99%.

. Источник: DEXTools.” class=”wp-image-224365″ srcset=” 1873w,×140.png 300w,×477.png 1024w,×358.png 768w” sizes=”(max-width: 1873px) 100vw, 1873px”>Торговая пара MOONKE/USD. Источник: DEXTools.Торговая пара MOONKE/USD. Source: DEXTools

It should be noted that traders’ enthusiasm for memcoins on the Solana network has decreased in recent weeks. Since April 1, the value of most tokens, including Dogwifhat (WIF), has dropped significantly.

. Источник: CryptoRank.” class=”wp-image-224366″ srcset=” 1365w,×96.jpg 300w,×326.jpg 1024w,×245.jpg 768w” sizes=”(max-width: 1365px) 100vw, 1365px”>Solana ecosystem memcoins. Source: CryptoRank

Let us recall that at the beginning of the month, Blockaid published a study on the Solana ecosystem. Experts said that about 50% of presales that took place from November to February turned out to be scams.