Arkham’s new tool shines a light on crypto influencers’ secrets

Listen up, you think you know the crypto game? Think again. Arkham Intelligence just dropped a bombshell with its new KOL Label, tracking the wallets of big-time crypto influencers on X.

This isn’t just about transparency, it’s about exposing the dirty secrets behind those flashy promotions. Narrator: and oh boi, there’s a sh*tload amount of secrets.

Be influencer, buy tokens low, tweet fluff, price up, dump on followers, profit like clockwork

Let’s face it, the crypto world is a wild west where anyone can become a star overnight. But with fame comes responsibility, and right now, that responsibility is lacking.

Reports show that 76% of influencer-backed tokens tank within months, losing over 90% of their value.

It’s like buying a ticket to a sinking ship, and influencers are often the ones selling those tickets for a hefty price.

Nice background deal you have here, it would be a shame if someone tweet about it

The KOL Label is a game-changer. It lets you see if influencers genuinely believe in what they’re promoting or if it’s just a paid gig.

And let me tell you, some of these influencers are making bank, up to $399 per tweet. But here’s the catch, many use multiple wallets to hide their tracks, so this tool might not catch everything.

There are many investigations that have uncovered some pretty shady dealings. Blockchain investigator ZachXBT exposed 16 influencers involved in pump-and-dump schemes, leaving their followers high and dry. It’s a mess, and it’s time for some accountability.

No FOMO

Experts like Tron founder Justin Sun are calling for more diligence. They say don’t just follow the crowd, but check the fundamentals, the social engagement, and the project’s underlying structure. It’s time to separate the wheat from the chaff.

So, will Arkham’s tool clean up the crypto space or just drive influencers to get sneakier? Only time will tell.

But one thing’s for sure, it’s a step towards transparency, and that’s something the market desperately need.

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