Chainalysis reported that nearly 5% of all tokens launched showed patterns similar to pump-and-dump schemes In 2024.
The firm revealed that over 3 million tokens were introduced, with over 1.3 million (over 40%) listed on decentralized exchanges.
However, only 1.7% of these tokens have seen active trading in the past 30 days despite the large number. Chainalysis attributes this low activity to many tokens being “abandoned shortly after creation,” likely due to lack of interest. Furthermore, analysts suggest that some tokens may have been part of brief schemes, such as pump-and-dumps or rug pulls.
“It is also possible that some of these tokens facilitate intentional short-lived schemes designed to exploit initial hype before fading away, also known as pump-and-dumps or rug pulls,”
the firm noted.
Moreover, Chainalysis identified that nearly 90% of decentralized exchange pools suspected of involvement in pump-and-dump schemes were “rugged” by their creators. The remaining pools were exploited by addresses financed by the pool or token creator. In some cases, the pool creator and the address behind the rug pull appeared to share the same funding source, indicating a coordinated effort to deceive users.
The analysts also noted that wash trading volume across Ethereum, BNB Chain, and Coinbase’s Base amounted to approximately $2.57 billion in 2024. While noting the use of “different methodologies” to detect various types of wash trading, the firm emphasized the significant impact of these activities on the market.
In another report, Chainalysis revealed that most crypto wallets holding the Official Trump meme coin have seen minimal returns, with over 77% of holders earning less than $100. The analysis shows that the TRUMP and MELANIA coins are mainly favoured by small-scale investors, with over 80% of holders possessing less than $1,000 worth of assets on Solana. Meanwhile, a small group of whales has made significant profits, with around 60 wallets reportedly earning over $10 million each.
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