Insiders Crash New Binance-Listed Altcoin By 40%

A week after a robotics token debuted on Binance, one seller dumped 42 million of them for about $5 million in one day. Investigator ZachXBT says Axis insiders received them from a team wallet. The price fell about 40% in a day, hitting traders who bought after the listing. Axis says its team sold nothing. Who Sold the AXIS Tokens? Axis Robotics collects robot training data . Its AXIS token went live on October 21. Binance’s early-stage Alpha section listed it first. Coinbase and South Korea’s Upbit followed. Then the selling started. In a Telegram alert , ZachXBT said insiders got over 76 million tokens, worth over $12 million, from a team wallet. Most were swapped for USDC, a dollar-backed digital coin, on decentralized exchanges (DEXs). Some went to Bitget.

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