TechFlow News, April 19: “On-chain detective” ZachXBT posted a retrospective on X regarding his prior disclosure of suspected market manipulation involving the RAVE token. He noted that RAVE plummeted from $26 to $1 within the past 24 hours. After calling on Binance, Bitget, and Gate to investigate anomalous trading activity, these exchanges have since issued public responses.
ZachXBT pointed out that RAVE launched in December 2025 with an initial total supply of one billion tokens, approximately 95% of which is controlled by a small number of addresses—posing a high concentration risk. He identified suspicious centralized exchange activity linked to wallet addresses associated with the RaveDAO team in April, contradicting the team’s claim of non-involvement in price volatility. Beyond RAVE, several other tokens—including SIREN, MYX, and COAI—have recently exhibited similarly suspicious price movements.
ZachXBT stated that he fully recognizes the substantial losses such conduct inflicts on retail traders. Nevertheless, he plans to continue investigating similar price anomalies to identify those responsible. He reiterated that he holds no RAVE tokens; had he held any, he would have been liquidated. He also emphasized that he cannot predict whether—or when—exchanges might issue public statements.
