Bubblemaps reveals suspected insider trading of KINS token; an address bought in 2 minutes before the CA announcement

Foresight News reports that, according to a post by blockchain analysis tool Bubblemaps, at the initial launch of the Solana-based game token KINS, wallet address 49UUeT purchased 4.7% of the token's total supply for approximately $127. Based on current prices, this position is now worth over $600,000. Bubblemaps pointed out that this purchase occurred about 2 minutes before the project team announced the contract address (CA) on the X platform, questioning whether this was luck or insider information.

KINS is the native token of the Solana-based browser MMO game Kintara, which officially launched on May 22. Its market cap briefly reached $15 million and attracted the attention of crypto KOL Ansem. Ansem publicly stated that Kintara saw around 7,000 new users in a single day, with servers consistently running at full capacity. Players can earn on-chain profits by selling in-game items and gold coins.