Bubblemaps alleges insider group acquired 40% of Solana token AVA at launch

On-chain analytics firm Bubblemaps has uncovered evidence of organized insider activity involving the Solana-based artificial intelligence token Ava (AVA) a year ago, Cointelegraph reports. According to the analysis, 23 wallets linked to the AVA issuer acquired approximately 40% of the token's supply immediately after its launch. Bubblemaps also noted that other wallets associated with these initial buyers purchased AVA in the early stages of its release, suggesting coordinated collusion among the group. AVA reached a peak price of $0.33 on Jan. 15 but has since fallen by about 96% to its current price of $0.01059.