Is Crown a Scam Project?



Key Takeaways

Crown project has seen a sharp price drop of more than 63% on May 7th,2022. This happened after 1 wallet sold ~$187,000.

Token Price Crash

Here is the contract address:  https://bscscan.com/address/0xb2566f80d781516a3d70f76f7bea388d1abb4917

Not much information is available about this project. It is not listed on any major crypto exchange, and we could not find its official website.

As we can see, on May 7th, 2022, around 1,422 tokens were traded. We can see the same screenshot from  Bitquery  below.

Token Trades

Also, most of its supply is contained in a few wallets. The top 100 holders collectively own 76.57% i.e. 765,663,828,531.52 Tokens of crown token. We can see the same screenshot from  BscScan  below.

Token Holders

If we examine some of the addresses like  0x4ff62771c43508b5fb5fbb94929d8009a36514a2  has 10% of it supply,  0x73ba8680a9b26368996574de43f7f9a0d2b31941  has 9.1808% of its supply and  0x3c1649a3659aa322280dbb8f0f0ce61a61f2d955  has 5% of its supply. So, these 3 wallets have almost 25% of its supply. So, these 3 wallets have power to do market manipulation. So, users should stay away from this token. We can see the same screenshot from  BscScan  below.

Token Holdings

Here is the token address:  https://bscscan.com/token/0xb2566f80d781516a3d70f76f7bea388d1abb4917 . It has a supply of 1,000,000,000,000 tokens. Currently, 1,924 addresses are holding it.

We will recommend our readers to be careful and perform their own research before investing in it. As crypto scams are increasing nowadays, our readers should stay alert.

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Fonte: theblockcrypto.com