Blockchain analytics firm Bubblemaps said a cluster of 23 wallets linked to the deployer of the Solana-based AI token Ava accumulated around 40% of the token’s supply at launch, raising new questions about insider coordination around the project’s debut.
The sybil wallet cluster related to the deployer shared similar patterns, including being funded in a tight time window through Bitget and Binance, receiving similar amounts of Solana (SOL) and having no blockchain activity before buying up the Ava AI (AVA) token supply at launch, Bubblemaps claimed in a Thursday X post.
“Connected to these snipers are other wallets that also bought $AVA early. Similar funding sources, sizes, and timing strongly suggest coordination across these clusters,” they said.
In crypto slang, sniping refers to employing crypto trading bots to automatically purchase new token supply as soon as the tokens become publicly available, aiming to buy at lower prices before the general public.
While the token was launched on memecoin launch platform Pump.fun, aiming for a decentralized, community-driven debut, the wallet cluster’s activity suggests acquisitions that led to a single entity holding 40% of the token’s supply.
_Source: _Bubblemaps
**Related: **__Crypto nears its ‘Netscape moment’ as industry approaches inflection point
A large token supply concentrated across a few wallets can help investors detect scams such as rug pulls, where insiders remove liquidity or stage a mass sell-off, resulting in a steep price collapse that leaves investors with worthless tokens.
The coordinated activity was uncovered through Bubblemaps’ Time Travel feature, a forensic-grade analytics tool launched in May that enables Web3 users to reconstruct the historical distribution of tokens, aiming to detect early insider activity.
**Related: **__Bubblemaps challenges PEPE’s fair launch, alleges 30% of genesis supply bundled
AVA AI token falls 96% from all-time high
The coordinated buying activity was revealed over a year after the AVA token’s launch on Nov. 13, 2024. The token reached a fully diluted valuation (FDV) of $300 million by January 2025, making it a popular autonomous AI agent utility token native to Solana.
The AVA token is down over 79% since launch and over 96% from its all-time high of $0.33 breached on Jan. 15, 2025, CoinGecko data shows.
_Source: _Bubblemaps
Ava, also known as “the HOLO AI intern,” was the first AI agent built on the decentralized AI launchpad Holoworld AI. The platform allows users to create, play, or raise funds for agentic AI applications.
Holoworld claims to have over 1 million users and 700,000 AI “creations” to date.
Cointelegraph has approached Holoworld for comment on the sybil wallet cluster’s activity during the token launch.
**Magazine: **__Memecoin degeneracy is funding groundbreaking anti-aging research
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana testnet deploys quantum-safe signatures, with network processing speed dropping by about 90%
Project Eleven and the Solana Foundation deployed quantum-safe signatures on a testnet. Initial results show their size is 20–40 times larger than existing signatures, causing transaction speeds to drop by 90%. Solana’s public-key design exposes it to higher quantum-attack risk, surpassing Bitcoin and Ethereum. Although the latter are looking for secure solutions, Solana is already leading in quantum-safe experiments.
GateNews1h ago
3 Promising Altcoins to Buy Before Momentum Builds — SOL, DOGE, and BCH
Solana drives growth through high speed, scalability, and an expanding developer ecosystem.
Dogecoin benefits from strong community support, brand recognition, and everyday payment use.
Bitcoin Cash enables fast, low-cost transactions with real-world payment utility and strong
CryptoNewsLand6h ago
Circle Mints Over $10B USDC on Solana in One Month
Circle has significantly increased USD Coin (USDC) minting on Solana, totaling over $10.25 billion recently. This surge indicates strong demand linked to crypto trading and DeFi growth, positioning Solana as a key player for stablecoin activity.
Coinfomania7h ago
The Solana Foundation launches Agent Skills, supporting AI agents and on-chain interactions
The Solana Foundation launched Solana Agent Skills on April 4, providing AI tools with prebuilt functional modules to simplify interaction with the Solana network. The official skill modules include error handling, security checks, and more. The community offers more than 60 skills, covering areas such as DeFi and payments.
GateNews10h ago
Circle Destroys 250M USDC on Solana, Monthly Total Reaches 10.25B
Gate News message, Circle destroyed another 250 million USDC four hours ago. Over the past month, Circle has destroyed a total of 10.25 billion USDC on Solana. According to Lookonchain's earlier report on April 3, 2026, Circle has been destroying 750 million USDC per day over the past four days, tot
GateNews14h ago
