The post Bubblemaps rates SPX6900 (SPX) as a good example of a decentralized token appeared on BitcoinEthereumNews.com.

SPX6900 (SPX) has all the markings of a viral token, including relatively volatile market prices. It turns out SPX is also comparatively decentralized and has no signs of insider holdings or large wallet clusters.  SPX6900 (SPX) has built up a wide user base, a year after its launch, and is a good example of a decentralized meme token. The asset appeared after a year of ‘cabal coins’, where Bubblemaps pointed out that the team or early snipers owned more than 70% of the supply. Bubblemaps has been a critic for multiple hot projects, including celebrity meme WAP supported by CardiB, as well as insider-held versions of NEIRO. SPX6900 (SPX) is one of the more widely distributed tokens, both in its Ethereum and bridged Solana versions. | Source: Bubblemaps. In the case of SPX, the token is still at the top when it comes to mindshare, but its spread and promotion did not come from a single group of entities. SPX is the top asset mentioned by influencer Murad Mahmudov, who advises all meme token investors to check for wallet clusters. SPX distribution is just a snapshot and does not guarantee the community will retain the same structure. However, the wide distribution is a positive sign for selecting other meme tokens.  At its deployment date, SPX only had the Uniswap V2 cluster, which distributed the tokens. There were no connections between the initial buying wallets. The token traded at a low price range for a year, forming relatively small clusters which shed their holdings over time.  In total, the top 10 clusters of SPX hold 16% of the supply, but the biggest cluster only has 3.5% of the tokens. Those holders can still sway the market price, but may not coordinate to shed tokens onto new buyers. In comparison, the 3AC…

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Filed under: News - @ October 17, 2024 10:25 am