Bubblemaps says that 23 wallets connected to the Ava deployer stole 40% of the AVA supply when it first came out. Later on, the Solana AI token fell 96% from its maximum position.
Bubblemaps, a business that analyses blockchain data, said that a collection of 23 wallets owned by the person who made the Solana-based AI token Ava held roughly 40% of the token’s supply when it first came out. This makes us wonder how people who worked on the project worked together to get it off the ground.
Bubblemaps noted in a post on Thursday that the sybil wallet cluster that the deployer shared had similar patterns. For instance, they all got their money quickly through Bitget and Binance, got the same amount of Solana (SOL$127.31), and didn’t do anything on the blockchain before purchasing up all the Ava AI (AVA) tokens when they first came out.
These snipers have other wallets that acquired $AVA early on as well. They said, “The fact that they all got money from the same places, in the same amounts, and at the same times strongly suggests that these clusters are working together.”
In the world of cryptocurrency, “sniping” is employing trading bots to automatically buy new tokens as soon as they are available to the public. The idea is to buy them at lesser prices before most others do.
The memecoin launch platform, Pump.fun, put the token out with the intention of having a decentralised, community-driven launch. However, the wallet cluster activity indicates that a single individual acquired 40% of the token’s supply through purchases.
A lot of tokens in a few wallets can help investors recognise scams like rug pulls, where insiders take away liquidity or set up a mass sell-off, which makes the price plummet quickly and leaves investors with worthless tokens.
Source: Bubblemaps
AVA AI currency worth 96% less than it was initially
People were working together to buy AVA tokens more than a year after they came out on November 13, 2024. The coin was worth $300 million in fully diluted value (FDV) by January 2025. This made it a popular utility token for AI agents that work on their own on Solana.
CoinGecko says that the AVA token has lost more than 79% of its value since it came out and more than 96% of its value since it hit an all-time high of $0.33 on January 15, 2025.
Ava, often known as “the HOLO AI intern,” was the first AI agent created on Holoworld AI, which is a decentralised AI launchpad. People can build, play, or raise money for agentic AI programs on the platform.
Holoworld estimates that more than 1 million users have used it and generated 700,000 AI “creations” thus far.