Original | Odaily (@OdailyChina）
Author | Wenser (@wenser 2010）
The Binance Alpha turmoil continues (see 'KOGE, ZKJ Swept Away Overnight, Binance Alpha Forced to Grow'), with market focus shifting to "Which Alpha token will be the next to experience a sudden crash like ZKJ and KOGE?"
Many are speculating that AB, which features the former Irish Prime Minister and Serbian President on its homepage, might be the next project to suffer significant losses. How did a charity project created by an Irish NGO focused on "technology for good" become one of the top-traded tokens on Binance Alpha? And how did a project that only officially launched on April 12th this year become a Binance Alpha listing within just two months?
Odaily will provide a brief introduction to the AB DAO project for readers' reference.
Binance Alpha's Most Absurd Episode: Serbian Former President as Community Reviewer, Token FDV Reaches $1.5 Billion
On June 7th, Binance Alpha announced AB token as its latest listing, with users scoring over 225 on Binance Alpha eligible for an airdrop of 9,882 AB tokens. At the time, the AB token price was around $0.01, and it even experienced a slight drop after the Binance Alpha listing announcement. The token contract was launched around 13:46 on June 4th.
Ten days later, AB token had risen to the top of Binance Alpha's trading volume:
According to @pandajackson's Dune dashboard, on June 15th, Binance Alpha's trading volume dropped below $1 billion to $777 million, continuing to decline since June 8th. That day, ZKJ's trading volume was $417 million, KOGE's was $91.72 million, and AB's was $65.69 million, ranking in the top three.
Dune Dashboard
After the ZKJ and KOGE token crash events, many in the market suddenly realized that the AB token's FDV is as high as $1.5 billion, comparable to established projects like CAKE, LIDO, and S. If this is just "surprising", the following information about the project might be somewhat "shocking".
Listing AB Token's Absurdities: Community Members Mostly European Politicians, Top Holder Owns Over 97%
To understand a project, its official website is often the primary source of information. AB DAO's website not only has a rather "retro" style, but its information is also extremely outlandish.
AB Community: Led by Serbian President, Packed with European Politicians
[Rest of the translation follows the same professional and accurate approach, maintaining the original tone and details while translating to English]
Summary: Binance Alpha Urgently Needs Rectification
Currently, Binance Alpha has gradually lost its original intention of "tracking Alpha token projects" and has instead become a farce of "I pretend to list tokens, you pretend to farm points".
With abstract projects like AB able to be listed on Alpha, it's no wonder that many crypto project founders are embracing MEME tokens or turning to the AI entrepreneurship wave. Of course, for a "farming project", adopting a quick in and out trading strategy might be an option, but conversely, if you're not careful and not fast enough, you might end up footing the bill for this feast.
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