The post Binance Introduces NEIRO Perpetual Contract Amid Controversy appeared on BitcoinEthereumNews.com.

Bubblemaps revealed insider trading in NEIRO, with 78% of tokens pre-allocated and later sold by insiders. Binance will introduce NEIRO perpetual contracts with up to 75x leverage but has yet to offer spot trading. Significant concerns have recently been raised about insider trading operations involving NEIRO coins, a dog-themed memecoin that was released on the Ethereum network this year. Bubblemaps, a blockchain analytics platform, reported that around 78% of NEIRO tokens were pre-allocated to insiders. Concerns Over Insider Trading and Impact on NEIRO’s Market Transparency  These insiders subsequently sent the tokens to more than 400 separate wallet accounts. As of August 28, this inside group has apparently sold approximately $9 million worth of NEIRO tokens. Earlier, Bubblemaps revealed that there was a large amount of insider trading in NEIRO tokens, with about 78% of the tokens being allocated in advance by insiders, who then transferred the tokens to more than 400 wallet addresses. As of August 28, the internal group had sold… https://t.co/sTnNo8hfIl — Wu Blockchain (@WuBlockchain) September 6, 2024 The scope of this insider activity has generated concerns about transparency and fairness in the NEIRO ecosystem, as such tactics have the potential to hurt regular investors and disrupt natural market dynamics. At the time of writing, NEIRO is trading around $0.1322, up an incredible 61.64% over the last 24 hours. A significant increase in daily trade volume, which has risen by 245% to $157.27 million, coincides with this jump. Interestingly, this sum exceeds the token’s market cap, which remains approximately $132.20 million. The gap between trading volume and market cap implies increased interest and activity in NEIRO, either due to speculative trading or expectation of future events, such as the launch of new trading pairs. Binance Introduces NEIRO Perpetual Contracts but Delays Spot Trading  Beside that, Binance, one of…

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Filed under: News - @ September 7, 2024 6:16 am